Can anyone lend me quid or two? For the first time in my life I’m borrowing money. Mortgaging property. Scrabbling around for cash so I can live my lavish life-style. In case any of the firms I have accounts with are getting worried, please don’t. I have many, many, many millions of pounds in what is laughingly known as a rollover fund. Mine’s in Guernsey. This turns cash into shares but your money is only put on the money market so there’s no risk. Instead of interest you get extra shares. When you eventually sell you pay around 25 per cent tax because it’s reckoned you’re cashing part of the increase and part of what you originally put there.
Years ago my learned tax lawyer, Ron Downhill of Berwin Leighton Paisner (commission please, Ron, if you get any business from this), agreed this was a good thing. For four years the Special Compliance Office put a wonderful man on my case who was determined to show it was tax evasion.
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