A farmer and boutique owner from Co Limerick made the largest of the settlements listed in the latest edition of Iris Oifigiuil which was published yesterday. The total value of the 77 settlements listed is just under £3.5 million (€4.4 million).

Mr Michael Hayes, of Walshestown, Castlemahon, had tax underpaid of £85,990 and paid interest and penalties of £137,015. His is one of seven settlements of more than £100,00 contained on the list.

Mr Gary Skelton, of Kempton Grove, Navan Road, Dublin 7, who is described as a company director, made a settlement of £150,867. The tax underpaid was £68,450.

The next highest settlement was from Court Properties Ltd, Kells, Co Meath, which made a settlement of £130,000.

Other significant settlements were: £125,808 from Diorama Ltd, described as a hotel business, of Westport Road, Castlebar, Co Mayo; £117,661 from Mr Michael Connellan, a retailer from Retiro Verde, Castleknock Road, Castleknock, Dublin 15; £108,684 from Mr John McDermott, who is described as a taxi/landlord, of Martin Savage Park, Ashtown, Dublin 15; and £102,160 from Mr Paul Black, a wholesaler, of Heynestown, Dundalk, Co Louth.

The list covers settlements in excess of £10,000 made in the period from January 1st, 2000 to March 31st, 2000. The next list of defaulters, due to be published in Iris Oifigiuil in three months time, may include publication of the circumstances behind the tax settlements, as provided for in the Finance Act 2000.

The new measure came into effect in late March, when the act was signed into law. It will mean that persons who make settlements arising out of such matters as the investigations into NIB or the Ansbacher deposits, may be identified as being in those categories.