I’m Steve Watt, a Chartered Accountant and Chartered Tax Adviser. I bring experience in professional practice, industry and running my own business to the advice I give individuals and businesses.
Professional background
I have worked in London and Paris, both in practice and in industry, including with Deloitte and PwC in Paris after qualifying.
I passed my professional examinations in three years, taking the final examinations of both the Chartered Institute of Taxation (CIOT) and the Institute of Chartered Accountants in England and Wales (ICAEW) in the same month. This was slightly unusual, as the tax examinations are usually taken some years later.
I became a Fellow of the Chartered Institute of Taxation in March 2014, following acceptance of my thesis, “Contrasts in Taxation of the Entrepreneur in France and the UK”.
I attended Alleyn’s School — a hard school to get into (and out of) — before going to Exeter University to study Pure Mathematics and Theoretical Physics.
Business experience and interests
I also grew and ran an IT business in France as its owner-manager, with a turnover of £2 million, writing some commercially successful programs myself. That experience gives me a practical understanding of the decisions and pressures faced by business owners.
I have followed commercial markets, stock markets and housing markets closely for many years. I sometimes discuss the economic ideas I have learnt through life with my brother Peter Watt, an economist, who usually informs me that my theory has already been discovered.
I have observed many talented people and learnt how easily people can make costly mistakes. Enthusiasm, self-belief, talent and originality can sometimes combine to produce them. Business offers plenty of opportunities for this. Sometimes people come into money and put it all into a business that fails, when they could instead have enjoyed some nice holidays or bought a new car.
If you are in business, you may not always feel able to afford a detailed discussion of your plans with a professional adviser. You can discuss your business plans with me confidentially and without charge.
My approach to tax
Paying a substantial amount of tax helps fund government services and can mean that you are making a substantial amount of money, although not all taxes are related to money-making. Perhaps the simplest way to reduce your tax liability is to pay off your tax bill.
The answer to the apparent paradox of wishing to minimise taxes that are generally proportional to profits is to aim for the best possible wealth after all taxes have been dealt with.
Tax rules and rates operate in a world where people actively plan and arrange their affairs to reduce their tax bills. Governments set those rules against that background.
Mitigating tax is an exercise in forward planning. Once events have taken place, the choices available are often limited. Improving a business’s tax position can be part of its overall competitiveness, and competitors may already be making use of tax planning advice and the available reliefs and exemptions.
Having your tax affairs dealt with promptly and competently can give peace of mind in a serious and complex area. My compliance work means keeping your tax affairs in order: accurately, fairly, cost-effectively and on time.
I also undertake the accounting work which, as well as providing the figures for tax purposes, enables you to monitor the performance of your business.
A personal service
My aim is to add much more value to my clients than the fees I charge. Your work is carried out by an experienced professional qualified as both a Chartered Accountant and a Chartered Tax Adviser.
I also help people with financial or tax problems without charging. This can include company directors whose businesses are experiencing financial difficulties.
My practice is internet-based, so there are no geographical boundaries, but I maintain a very personal touch. I generally work with electronic files and scanned documents rather than retaining paper documents, and these can be sent and received electronically.
To discuss your circumstances, email info@stevewatt.co.uk or call 07859 050842.
You can also view my fees.