Very funny guy. Sat with him once and watched him fall off a bar stool, pick himself back up, and continue with his story right from the spot where he'd passed out! Amazing, too, that he's usually doing the F1 commentary from a studio watching it on the "Telly".
However, I'm more familiar with the phrase as "Bob's your uncle." http://en.wikipedia.org/wiki/Bob%27s_your_uncle