GLEESON CONCRETE, a Tipperary-based supplier of construction products, has made a settlement of €7.65 million after underdeclaring its corporation tax, VAT and PAYE/PRSI.
The case, which was uncovered by the Revenue’s investigations into the misuse of trusts and offshore structures, was the largest settlement in the latest quarterly publication of tax defaulters.
Government publication Iris Oifigiúil yesterday published the names of 62 tax defaulters who made settlements totalling almost €21 million with the Revenue in the final three months of 2010.
This was part of a total sum of €116.1 million yielded from Revenue investigations in the period.
The Gleeson settlement included €4.8 million in interest and penalties. The company is a family business established in 1958. Its registered office is in Limerick, but it is based primarily in Tipperary, with its main facility in Donohill. Quarry operator John Gallagher, based in Duleek, Co Meath, made the second-highest published settlement during the quarter. He made a settlement of €3 million after underdeclaring income tax and PAYE/PRSI, with the sum including €1.84 million in interest and penalties.
A further five settlements exceeded €500,000, while half of the 62 published settlements were for amounts above €100,000.
James Harmon of Charleville, Co Cork, whose income derives from property letting, made a settlement of €865,000 for underdeclaration of income tax and capital gains tax. This was a Revenue audit case.
Thomas Gray, of Kilmoorland Stud in Rathmoylan, Co Meath, whose occupation is listed as a court messenger, made a settlement of more than €795,000 in another deposit interest case.
Humphrey Lynch, a landlord with an address at Coachford, Co Cork, made a settlement of more than €740,000 for underdeclaration of income tax and capital gains tax. Aideen Mulhall, of Rathfarnham, Dublin 14, made a settlement of more than €568,000 after underdeclaring tax on rental income and capital gains.
James Connellan, a retired dentist based in Carlow, made a settlement exceeding €544,000 following an investigation into the misuse of single-premium insurance products. The list of published settlements includes 10 farmers and 10 who are identified as company directors. Four landlords and four publicans also made settlements during the period.
The artist John Kingerlee, who is based in Beara, Co Cork, also appears, having made a settlement of €60,000 in relation to the underdeclaration of VAT.
Companies on the list include insurance brokers Pat O’Neill Life, Pension and Investment Ltd of Dunmore Road, Co Waterford; motorcycle distributor Priory Cycles in Dublin 11 and Roscommon Oil Distributors of Strokestown, Co Roscommon.
