Revenue tax defaulters: Futures trader and physical therapist top list as €3.7m in settlements made

Yesterday at 16:03

A futures trader and a physical therapist have topped the latest list of tax defaulters released by the Revenue Commissioners.

Fourteen cases have been published, with the total settlements amounting to €3.7 million. These relate to the second quarter of the year, from April 1 to June 30.

A company director and futures trader based in Co Meath was hit with the biggest settlement for the under-declaration of income tax following an audit.

Michael Roche Junior, from Waynestown, Dunboyne, was ordered to pay €289,705 in tax, €130,118 in interest and a further €86,912 in penalties, amounting to a total of of €506,000.

A physical therapist who is listed as a PAYE employee was the next highest on the list after being hit with a settlement of €484,000 for the non-declaration of Capital Acquisitions Tax.

Louise Hoste, from Lendelede, Donaghmore in Ashbourne, Co Meath was ordered to pay €295,100 in tax, €100,560 in interest and €88,530 in penalties.

A fast food company, clothing boutique and a future shares trader were among the others who made settlements with Revenue.

MN Fashions Limited, trading as the popular Virgo Boutique in Newcasatle West, Co Limerick, made a settlement of €189,421 for the under-declaration of PAYE, PRSI, USC and VAT.

Meanwhile, future shares dealer and proprietary director David Cinnamond, with an address in Kingston Park, Ballinteer, Dublin 16 made a settlement of €461,961 for the under-declaration of income tax following an audit.

Aria Foods Limited on Parliament Street in Dublin, which is now in liquidation, made a settlement of €451,563, with the full amount still to be paid.

An orthodontic service provider in Ennis, Co Clare, was hit with a fine of €350,818.

Streamglade Company, trading as Ennis Orthodontic Practice, which is now in liquidation, was investigated in an audit for the underdeclaration of PAYE, PRSI and USC.

A landlord in Co Kildare had to pay €250,000 for the under-declaration of income tax.

Donal O’Sullivan, of Rathallen, Baybush in Straffan, who is listed as a director, investor and landlord, was audited by Revenue and ordered to pay tax of €178,094, interest of €18,935 and penalties of €53,428.

All 14 settlement cases exceeded €100,000 each.

As of June 30, 2023, two cases had not been settled in full, with the amount unpaid standing at €602,955.

There were also three cases where there was no agreement to a penalty or a court had to determine the penalty.

The total amount of court determined penalties was €293,000.

David Johnston, a proprietary director based on Albert Road, Glenageary, Co Dublin was hit with a penalty worth €223,000. This related to the under-declaration of income tax in the amount of €332,000.

There were a further 47 cases for failing to lodge returns, delivery of incorrect returns and falsely claiming VAT repayments.

Court fines totalling €99,200 were imposed.

Revenue said these settlements reflect only a portion of its interventions. In the three-month period to June 30, 2023, a total of 15,202 Revenue Compliance Interventions were settled resulting in a total yield of €198 million.