Loyalist fined £145,000 by NI assets agency

A loyalist under investigation by the Northern Ireland Assets Recovery Agency (ARA) has been ordered to pay the UK's Inland Revenue…

A loyalist under investigation by the Northern Ireland Assets Recovery Agency (ARA) has been ordered to pay the UK's Inland Revenue £145,000, it was revealed tonight.

The tax assessment of his criminal earnings is the first of its kind ever carried out in Northern Ireland.

The man, who is believed to have links with paramilitaries in south east Antrim, has not been identified.

He has 30 days to lodge an appeal and faces interest charges and penalties if the bill is not paid. They could amount of half of amount already assessed.

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Under the Proceeds of Crime Act 2002, the Assets Recovery Agency in Northern Ireland, headed by the former RUC assistant chief constable Alan McQuillan can assume the role of the Inland Revenue is he believed there was a reasonable suspicion that income was the proceeds of crime.

Mr McQuillan was called in to investigate after the man's financial affairs were first examined by police.

Mr Ian Paisley Junior, a member of the Northern Ireland policing board, said paramilitaries on all sides were amassing fortunes running into millions through extortion and racketeering.

He said: "The ARA has promised us it will recover millions. Its performance will be judged on the conclusion of these cases, not the commencement.

"The community wants to see these paramilitary groups taken on and all their assets seized."

PA