Interesting re the new Chancellor of the Exchequer

Didn't find your answer?

https://www.theguardian.com/politics/2019/aug/05/john-mcdonnell-question...

Presumably this is Deutsche Bank's tax avoidance share scheme for its employees done down by the SC.

https://www.supremecourt.uk/cases/docs/uksc-2014-0151-judgment.pdf

There seems to be no denial of his involvement in that. Where is Ann Accountant et al to express their usual tax avoidance indignation etc? Also, why wasn't this scheme blocked retrospectively like the loan charge for EBTs? Talk about hypocrisy!

Replies (14)

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By Jdopus
05th Aug 2019 14:30

Where's the hypocrisy? Presumably a lot of people don't agree with the appointment of Sajid as Chancellor.

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RedFive
By RedFive
05th Aug 2019 14:43

So that’s being asked by the John McDonell who was sacked by Ken Livingstone for making a budget up?

You really want that muppet looking after this countries finances?

Rather than criticising those in power why don’t you have a go yourself if you think you have the answers.

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By Tax Dragon
05th Aug 2019 15:14

Didn't HMRC win the appeal?

Why do you need any legislation (retroactive or otherwise) to block a scheme that didn't work?

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Replying to Tax Dragon:
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By Justin Bryant
10th Jul 2022 12:13

"Why do you need any legislation (retroactive or otherwise) to block a scheme that didn't work?"

But HMRC always considered EBTs (with loans) did not work (and the SC held so in Rangers), so I could throw your question straight back at you re the loan charge couldn't I?

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paddle steamer
By DJKL
05th Aug 2019 15:41

Well- some serious questions arise.

When I get home tonight I will have to have a serious conversation with my other half, a former Deutsche Bank Quant Analyst ( Maybe her roles with B T Alex Brown, Natwest Markets, Bankers Trust, Baillie Gifford and Standard Life also need examined), whilst she left Deutsche nine years before the financial meltdown questions still need answered regarding her current suitability to operate our joint housekeeping account.

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Psycho
By Wilson Philips
05th Aug 2019 15:44

Give it a rest, Justin. It's pretty clear that your rants about the loan charge are driven by personal circumstances.

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Replying to Wilson Philips:
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By Justin Bryant
10th Jul 2022 12:21

Well, the Morse Review confirmed I'm right (mainly at least) and I doubt that Morse chap had any skin in this game.

BTW, where have you gone? Have you slunk off in embarrassment about being wrong all the time?

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the sea otter
By memyself-eye
06th Aug 2019 14:33

What is a 'quant'?

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Replying to memyself-eye:
paddle steamer
By DJKL
06th Aug 2019 15:03

"Quantitative analyst
noun
a person who analyses a situation or event, especially a financial market, by means of complex mathematical and statistical modelling.
"Wall Street firms are hiring large numbers of quantitative analysts"

It always horrified me that this was what my other half did back when we first met and got married as her maths is frankly woeful, even mine is better which is not saying a lot.

In the ranking of which analysts got paid what quants were the poor relations (though remarkably well paid compared with those of us that did not work in the markets) , but they were not bestowed vast expense accounts to entertain their friends, like say the retail analysts in the 1980s /1990s post the Big Bang splurge (my other half started in financial markets in 1982 post university )

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Replying to DJKL:
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By Tax Dragon
06th Aug 2019 15:13

Not handbags then?

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Replying to Tax Dragon:
paddle steamer
By DJKL
06th Aug 2019 15:59

Nothing that interesting, more index benchmark calculations for say FTSE ex financials or Pacific ex Japan; she used to try to explain it all to me, adjustments for corporate actions/share splits etc, great way to deal with insomnia.

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Replying to DJKL:
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By Tax Dragon
06th Aug 2019 16:31

My birth Mum was a 60s child.

Granny had a Mary Quant bag.

I was found in it.

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Replying to Tax Dragon:
paddle steamer
By DJKL
06th Aug 2019 16:50

I am a sixties child (A 1960 one to be precise)- you have made me feel quite old.

At least you had a decent taste in bags, bit of designer bling. Not that I am much of a judge, I worked as the FD for a clothing company in my early 30s, Katherine Hamnett this and Jean Paul Gaultier that (previous season factory outlet)- I though most of it was c**p. (oops, just did a Ratner)

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By Justin Bryant
08th Jun 2022 13:38

This story (or one fairly similar) has resurfaced for some reason:
https://www.independent.co.uk/news/uk/politics/sajid-javid-tax-labour-hm...

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