Here in Tolley House, situated in the Barcelona-like environs of East Croydon, we are surrounded by office buildings occupied by AIG. We've spent a wary couple of days watching the window ledges for fear of being hit by falling financiers, but the Fed now having effectively nationalised them, we can start looking at tax cases again instead. Such as the case of Drummond, for example, where, according to the Special Commissioner, there was 'no realistic likelihood' of the steps in the tax mitigation strategy concerned not being carried through to their conclusion. Remind me again, what was at the heart of this scheme, I mean strategy? Why, an investment bond from AIG, of course...
We prefer Crunchies to credit crunches atTaxation.co.uk.