By: Maria Ward-Brennan

Professional Services Editor Maria Ward-Brennan is the Professional Services Editor at City AM, focused on law, Big Four, and other management and accounting consulting firms. She was previously a litigation reporter at The Lawyer. Contact her via email at maria.ward-brennan@cityam.com or X (Twitter) @MariaW_B.

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Record number of UK businesses face financial woes ahead of Budget

October 30, 2025

The number of UK businesses in ‘critical’ financial distress has surged as the economy cries out for certainty in Rachel Reeves’ November Budget. The number of businesses in ‘critical’ financial distress surged 78 per cent year-on-year, to 55,530 in the third quarter of 2025, up from 31,201 in the same quarter last year. The latest [...]
Trump’s DEI crackdown sparks ethics exodus across UK businesses

October 30, 2025

US President Donald Trump’s crackdown on initiatives such as diversity, equality and inclusion (DEI) and environmental sustainability has drifted across the Atlantic. According to research by law firm Freeths, over half of UK businesses (54 per cent) have changed the way they approach ethical policies and practices. While over a quarter (28 per cent) have [...]
FTSE 100 Live: OpenAI plots IPO, Shell kicks off $3.5bn buyback

October 30, 2025

Good morning from the City AM liveblog team. The war of words between banks and private credit ratcheted up on Wednesday, after a trio of bosses from private lenders rounded on claims their industry played a pivotal role in a string of recent debt-related collapses, branding it “misinformation”. During a fiery evidence session in the [...]
The Gulf gamble: American and British law firms racing to Saudi Arabia

October 30, 2025

Saudi Arabia is rapidly becoming the focus of global legal attention. But this shift is not merely speculative; it is part of a calculated move by the Kingdom to attract world-class expertise. The Kingdom of Saudi Arabia changed its law two years ago to allow foreign law firms to operate independently, as part of its [...]
Labour faces setback as Lords boots back workers’ rights Bill

October 29, 2025

The Employment Rights Bill failed to clear the final hurdle, as the House of Lords ping-ponged it back to MPs for further debate over disputed points, including the controversial granting of ‘day one’ rights. The highly contested Bill, which was a significant part of Labour’s manifesto, will see a major overhaul in the UK’s employment [...]
Top court sides with HMRC as NHS hospitals liable for VAT on parking fees

October 29, 2025

HMRC brought a case against a branch of NHS hospitals to the Supreme Court over whether VAT should have been charged on hospital car parking fees, and they’ve succeeded. Today marks the end of a five-year legal battle through each court stage over VAT on parking tickets used by patients, visitors, and hospital staff at [...]
PwC shrinks global headcount amid $1.5bn AI drive

October 28, 2025

Big Four giant PwC has shrunk its global workforce for the first time since 2010, trimming staff numbers by nearly 6,000, as the chairman cited investments in AI tools. In its annual report, published on Tuesday, PwC firms reported record gross revenues of $56.9bn for the 12 months ending 30 June 2025, marking a 2.7 [...]
Lawyers to rethink personal tax structures as Reeves set to target LLPs

October 28, 2025

Chancellor Rachel Reeves’s proposed tax raid on LLPs may force partners to work longer or reconsider their retirement plans, with significant financial implications for many professionals. It was reported last week that Reeves is targeting limited liability partnerships (LLPs) in a tax raid as she tries to fill a fiscal black hole. The proposed 15 [...]
Sweet relief: Ferrero’s Nutella biscuits remain VAT-free snack

October 28, 2025

A Tax Tribunal ruled in favour of Ferrero UK, stating that their ‘Nutella Biscuits’ are zero-rated for VAT, in yet another food battle HMRC has had over the bizarre tax rules around food. The case centred on whether the ‘Nutella Biscuits’ were “biscuits… partly covered with chocolate or some product similar in taste and appearance” [...]
British businesses lead the world in risk management

October 28, 2025

UK businesses lead global peers in risk oversight, with nearly eight in ten British businesses reporting that boards are directly involved, a figure significantly higher than global peers. According to Aon’s new ‘global risk management survey’, senior leadership in the UK is taking on greater responsibility for the risks their businesses face, as three-quarters of [...]

Britain takes first steps on journey to 2040s North of England Olympics bid

Britain takes first steps on journey to 2040s North of England Olympics bid

Why now is the perfect time to visit Cyprus

By: Maria Ward-Brennan

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