Posted on 2013-09-26 | 04:47

The news that Deloitte, one of the UK’s largest accountancy firms, has been fined a record-breaking £14 million for a “conflict of interest” was very much welcomed by Roger.

This accountancy firm – one of the big four which dominate the market – advised both the MG Rover Group and the Phoenix Four Directors, which bought the carmaker for just £10. They plundered the firm’s assets and paid themselves and the Managing Director £42 million, before the firm collapsed in 2005 with debts of £1.4 billion and the loss of more than 6,000 jobs.

Among the 13 charges found against Deloitte was that they benefited financially from schemes devised by the Phoenix Four. Roger said: “The big four accountancy firms devise the intricate and complicated schemes which allow their corporate clients to recycle profits around the world and minimise their tax liabilities in the UK.”

Roger continued: “Furthermore they have a cosy and incestuous relationship with HMRC, whose former boss, Dave Hartnett, has now been recruited by Deloitte!"