Businessman challenges Revenue over tax-avoidance scheme claims

A businessman has brought a High Court challenge against Revenue’s determination that he engaged in a complex tax-avoidance transaction.

Anthony Donlon, of Claughan House, Lower Church Rd, Raheen, Co Limerick, brought the action arising out of Revenue’s treatment, claiming its imposition of a tax liability on him is an unjust attack on his constitutionally protected property rights.

Last November Revenue issued a notice of opinion, under the Taxes Consolidation Act, in respect of transactions lawfully entered into by Mr Donlon in late 2007. The scheme was called ‘Schroders Ready Made 26’ by Revenue.