Nightclub operator Reynolds forced to hand over almost €500k to Revenue

Nightclub operator John Reynolds, who is the nephew of the former taoiseach, Albert Reynolds, has been forced to hand over almost €500,000 as part of an investigation into tax defaulters.

Pod Entertainment Ltd, run by the Electric Picnic organiser, has been ordered to make a settlement of €479,211 in unpaid tax, interest and penalties by the Revenue Commissioners.

A dentist, property developers and publicans were among the other 90 tax defaulter cases the Revenue Commissioners published yesterday making settlements totalling €14.96m.

The latest tax defaulters list contains the details of 90 tax-

payers who have been forced to settle outstanding tax liabilities to the State for the three months ending Dec 31, 2011.

Included on the tax defaulters list were Graham and Amanda Geraghty, a company connected to Conrad Gallagher and an assistant Fás manager who was jailed for defrauding the agency.

The highest settlement was made by a Carlow dentist. James Madden from Ballylennon house, Palatine, Carlow settled with the Revenue for €1.73m for non-declaration of income tax, holding a bogus non-resident account and offshore assets investigation.

Under-declaration of VAT cost George and Ruth Raymond, residential property developers, from Rustica, Upper Kindlestown, Delgany, Co Wicklow, €890,641.

Brooke Tyrrell who is listed as a video production service supplier, made a settlement totalling €724,682. Mr Tyrell has previously been sentenced to four years in jail for defrauding Fás of €600,000 between 2003 and 2008.

A company connected to Conrad Gallagher, Boutique Restaurant Concepts Ltd, was fined €652 for failing to hold a valid liquor license. The High Court ordered the wind-up of the company last year.

Meath GAA footballer Graham Geraghty and his wife Amanda, a hairdresser, from Higginstown, Athaboy, Meath, were fined €6,250 for failing to return statements of their financial affairs to Revenue.