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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Job cuts at Big Four firms fuel worker burnout

May 20, 2026

Job cuts at professional services firms are resulting in overworked staff, but the pressures – combined with increased reliance on AI – risk damaging firms’ reputations through mistakes, writes Maria Ward-Brennan. The professional services industry, especially the Big Four giants, has faced its fair share of job cuts, with thousands of roles laid off in [...]
HMRC fights to close Bolt’s VAT loophole

May 19, 2026

Ride-hailing platform Bolt faces the tax authorities in court today over how it calculates and pays its VAT bill. At the centre of this dispute was the question of whether Bolt could use the tour operators’ margin scheme (TOMS). Under this scheme, businesses only pay VAT on the profit margin they make between buying a [...]
Revolut deploys AI to scrutinise law firms in major shake-up

May 19, 2026

Fintech giant Revolut is scrapping the ‘traditional’ method of assigning external law firms in favour of a new system where no law firm’s position is secure. Businesses that need external law firms on hand hold a panel session, where they vet law firms within their price range, and those that win secure a spot for [...]
Tax judge criticises ‘fabricated AI cases’ cited in appeal against HMRC

May 18, 2026

A former West Sussex restaurateur has avoided contempt of court after using AI hallucinations as evidence in his £51,000 tax battle against HMRC. HMRC had sent letters to Omar Rafique, former director of Karma Lounge in Worthing, in 2024 demanding payment of over £51,200 and warning that he could face bankruptcy if the debt was [...]
Energy giant clashes with HMRC at UK’s highest court over £28m penalty

May 18, 2026

Scottish Power is to face the tax authority at the UK’s highest court over a tax deduction on a £28m penalty to settle a probe with the regulator. The legal case stems from a probe by the energy regulator Ofgem into Scottish Power between 2013 and 2016 regarding mis-selling, poor complaints handling, and a lack [...]
FTSE 100 Live: Stocks down on election day; oil back below $100 as Iran deal hangs in balance

May 7, 2026

Good morning and welcome back to the City AM liveblog. It’s local election day in the UK and Keir Starmer’s premiership is hanging in the balance as his Labour Party prepares to take a drubbing in council boroughs across the country. Gilt yields rose at their fastest rate earlier this week as the market prepares [...]
City law firms put US partner promotions in the spotlight

May 7, 2026

As law firms increasingly shift their focus to the US there has been a surge in partner promos across the Atlantic – while London is becoming more selective, writes Maria Ward-Brennan. It’s that time of year when my inbox gets flooded with press releases and Companies House notifications about partner promotions at the City’s finest [...]
City watchdog eyes new laws for claimant firms accused of ‘harm’

May 6, 2026

The City watchdog has threatened enforcement action and new laws to impose “stronger compensation mechanisms” against the claims management market, including law firms that cause harm. The Financial Conduct Authority (FCA) has launched a fresh review of “the root causes of poor practices” across the market, as claims management companies and law firms come under [...]
Two million global airline seats cut as jet fuel shortage grounds travel

May 6, 2026

Airlines are preparing to slash millions of seats from this month’s schedule, as the Middle East conflict and soaring jet fuel prices drive up costs ahead of the industry’s busiest travel season. Some 13,000 flights have been removed from May schedules worldwide, according to data from the aviation analytics company Cirium. Istanbul, one of the [...]
FTSE 100 Live: Stocks jump; oil dips below $100 as Trump says Iran deal close

May 6, 2026

Good morning and welcome back to the City AM liveblog. Brent crude dipped below $100 at Wednesday lunchtime after Donald Trump has hailed “great progress” towards a “final agreement” with Iran, prompting a rally in the FTSE, Asian markets and Wall Street. In a sudden reversal late last night, President Trump said he will pause [...]

FTSE 100 Live: Inflation to reveal economic consequences of US-Iran war

England’s secret weapon against World Cup heat? British company’s £26 product

Old Pulteney releases 50-year-old whisky for 200th anniversary

By: Maria Ward-Brennan

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