The firm’s average profit per partner rose to a record high of £868,000 from £685,000 in 2020 with a bonus pot of £128m for UK staff. This is up from £83m last year and £113m pre-Covid-19. Staff also received an additional day off and an extra weeks pay in May.

PwC also saw its gross revenue increase by 2% to £4.4bn for the year ended 30 June 2021 which it stated was partly the result of ‘a significant uptick in growth’ in the second half of the year as client activity rebounded. This result keeps PwC as the UK’s largest accountancy firm on Accountancy Daily’s top 75 league table.

There was also a 5% increase in its underlying net revenue which was due to the fall in travel expenses by its staff who have mostly been working from home during the pandemic.