In our 5 Minutes With… series we speak to journalists on beats across our key client sectors and explore the hot topics they are tracking, what makes a good story, and what makes sources quotable. In this instalment, we speak with ITR’s Tom Baker. If there’s one thing Tom knows how to cover, it’s professional services. A former Senior Reporter at Legal Business, he has also worked in-house producing content for a top 50 UK law firm. He now leads the editorial team at International Tax Review, the global news and analysis provider for all things corporate tax. What are the key themes for 2026, in your view? Taxation is a perennially contentious issue, and is sure to generate headlines throughout 2026. As the new year begins, two issues look certain to dominate – and policymakers in the US will be central to both of them. Tariffs quickly became a hallmark of the second Trump Administration, as the US imposed new levies on trade partner countries around the world. Rate changes and deals continue to dominate the US’ international trade discussions, forcing businesses to adjust 2026 plans accordingly. Elsewhere, measures to counter base erosion and profit shifting continue apace. The OECD has for a number of years led this initiative to create a consistent set of international tax rules, mitigating the impact of hybrid mismatches that occur when jurisdictions use aggressive tax policy to attract investment and levelling the playing field for global business. Pillar two of its proposals is focused on agreeing a global minimum tax rate to be applied to business profits. “Regardless of what happens geopolitically, tariffs and pillar two look set to define the world of tax yet again in 2026. The US has a huge part to play in both policy issues, which are causing misery for taxpayers, tax authorities and tax advisers alike. Outside of that, we’re always interested in the ‘business of tax’, in other words, what tax advisory firms are doing and why.” What does your average week look like at ITR? Flexibility and variety are common themes for editorial teams as they balance tracking (and driving) the news agenda on a daily basis with the various other demands on their time: from piecing together longer-term feature pieces, to judging awards submissions and everything in between. This is no different at International Tax Review, though the requirement to deliver newsletters to expectant subscribers does bring some structure to the working week. “We’re lean and mean at ITR, and pride ourselves on being truly international, which means we have to be flexible and reactive to developments as they occur. In short: planning my week often goes out the window. However, we are, in some sense, governed by our newsletters, which cater to specific niches and give us direct contact with our subscribers. As a result, I’m often ensuring that we have a good direct tax story on a Monday, and a solid transfer pricing piece on a Thursday, for example.” What makes the 'perfect story'? In pursuit of a good story, ITR’s editorial team always goes back to first principles. Its mission statement guides all editorial discussions and meetings. “For us, the benchmark of a good story is whether it satisfies our mission statement: ‘does it help our subscribers win new business?’ Most obviously, this means sharing best practices in terms of firm strategy, recruitment and the like. But policy issues like pillar two are also really important, because tax advisers need to be horizon scanning if they want to give their clients the most informed counsel. In terms of composition, a good news story should be succinct and have a snappy, provocative headline. Brevity is the soul of wit.” What about the ‘perfect quote’? The clear advice to spokespeople seeking media coverage – and this is particularly pertinent in the world of professional services where the prevailing winds of detail, thoroughness and caveats often blow strongest – is to be confident and form a clear view. There is a time for balance, but don’t be afraid to express an opinion and commit to it. “A good quote should nail its colours to the mast and offer an authoritative opinion. “Remains to be seen” should be banned – a quote is inherently an expression of a personal view, so be confident and say something beyond the ordinary commentary. You’re the expert!” Who are your heroes? Now in an editor role, Tom must rally the troops and set editorial strategy. In so doing, he is keen to take forward the lessons he learned in his reporter days (as well as taking inspiration from the world of sport with a nod to one of the 21st century’s footballing greats). “I like to think I’ve learned something from all the editors I’ve worked under and incorporated all those elements into how I approach editing. At Legal Business, Alex Novarese taught me the fundamentals of the legal market and gave me the best journalistic training you could ask for. Nathalie Tidman, who was my editor later on at Legal Business, is an excellent contact journalist who really emphasised the importance of maintaining those professional relationships. At ITR, I’ll shout out my boss Ed Conlon, who writes and edits to an exceptionally high technical standard (I promise I’m not fishing for a raise). Personal hero? Eden Hazard. What a player.”