Swedish private equity group EQT is backing a new UK tax business to disrupt the Big Four and ‘carry on accounting’. The new firm, WTS UK, will be fronted by Jeff Soar, a former EY executive who led its global law business. For decades, the Big Four have dominated the UK tax accounting and audit space. This new launch, which already has 10 partners in place and aims to have 100 partners within the next five years, is set to put the cat among the pigeons and who knows…maybe it will soar above the Big Four. WTS UK will be part of the wider WTS network of small tax firms that EQT invested in last year. The firm’s launch suggests that private equity sees a clear opportunity to disrupt and leverage the tax code. Soar was quoted as saying: “We’ve got a level of ambition that people very quickly will see us as standing toe to toe with the Big Four’s [tax practices] — that’s our goal.” Will it be a ‘soar’ shot to success? Time will tell.