Rossminster
Rossminster was a company in the late 1970s and 1980s that were tax consultants. Others thought they were tax avoidance merchants, but as my memory is not that good and it relies on a couple of articles I read thirty years ago in The Sunday Times, I couldn’t possibly comment. But as they got full page articles in The Sunday Times, they were obviously significant or had very good friends.
You have to remember that in those days the top tax rate was eighty percent. Yes! Eighty percent! And therefore there was a massive industry that wasted some of the best brains in the City of London to save people money. Gordon Brown should realise that high tax rates never collect money, as those brains in the City are much better than those at his disposal. And infinitely better than his.
The Sunday Times or some other newspaper christened their methods the “Money-go-Round”, in that if I remember correctly money was moved between accounts and the theory was that if it wasn’t there long enough you couldn’t tax it. I’m probably wrong there, and if anybody knows the real story correct me.
But I know I’m right about lots of accounts and lots of transfers as I was asked to quote for a computer system for the company.
I was introduced to the company by a friend, who was incidentally one of the bank managers to Rossminster. I suspect he saw the potential for revenue for his bank from all those transfers. It would be typical, as he was one of the few bank managers I’ve ever met, who looked upon businesses in a radical way, that was for everyone’s mutual benefit.
In some ways he was a rogue, but a rogue on the side of the angels.
He finally left the bank, as a main board director, to care for his wife who was gravely ill.
One day, I’ll put a book together of the stories he told me. But I’ll wait a few years yet.
The Anonymous Widower 
I think now is the time to write your book, I, and many others, would be most interested. I worked at Rossminster for a couple of years!
Comment by supier cramp | June 21, 2012 |
Did you work in the offices in Hanover Square? If you live or work in London, this sounds like an excuse for a coffee or something stronger.
Comment by AnonW | June 21, 2012 |
I did work in Hanover Square, however, I now live in the North!
Comment by supier cramp | June 21, 2012
DId you ever meet a David Quick from the Lloyds branch in the Square?
Comment by AnonW | June 21, 2012 |
I cannot recall ever meeting him, but I was only there between 1975 and 1977.
Comment by supier cramp | June 22, 2012 |
It strikes me that some of the schemes thought up lately have a touch of the Rossminster’s about them.
Comment by AnonW | June 22, 2012
I agree entirely, which is what made me ‘google’ Rossminster and then found your website!!
Comment by supier cramp | June 22, 2012
They should have Rossminster established again.
Comment by Wasiu | January 9, 2015 |
I have used the odd innovative scheme over the years and the Revenue usually gives them a hard time.
I’m very happy that I have all my spare cash in Zopa and have done for some years now. I could earn a little bit more money elsewhere, but not with so little hassle.
Comment by AnonW | January 9, 2015 |
i recall my father talking about Rossminster in the late 70’s as i was a teenager at the time did not understand what it was about . i do however remember talk of a test case That failed anyone able to enlighten me?
Comment by Gillian | August 26, 2016 |
I worked at the bank and was there on the morning the inland revenue raided the office in Hanover square. BTW there is a difference between Tax avoidance and Tax evasion. At the time the schemes were legal but annoying to the inland revenue, hence the raid but no prosecutions were made.
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Comment by Gillian Holmes | April 2, 2025 |
I know the difference, but luckily, I’ve never been involved in a serious case with the Inland Revenue. I once paid them a seven-figure sum and used a big cheque for the payment. My accountant once told me, that cheque was on the wall of the office in Ipswich and got me a few favours.
Comment by AnonW | April 2, 2025 |