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Never mind the detail, what's the policy?

Malcolm Gammie, QC, asks about the policy behind the practice

 
Malcolm Gammie QC asks about the policy behind the practice
 
Every academic year between October and May a group meets once a month at the London School of Economics to discuss current tax issues from a policy perspective. The sessions bring together students academics practitioners and policy makers from the Treasury and Inland Revenue (but only rarely from Customs & Excise). Recent discussion in the professional press of Finance Act 2003 Schedule 22 put me in mind of a session that I attended in the mid-1980s when Professor Mervyn King (now Governor of the Bank of England) used to run the sessions.
 
In the course of a discussion on employee share incentives he asked me...

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