In total, 752 “compliance interventions” have been opened on medical consultants and their controlled companies with approximately half of the interventions completed.
Some of the issues examined by the Revenue Commissioners include excessive or incorrect tax deductions; consultants claiming personal expenses against professional income, and consultants having inadequate or no documentation in support of expenses.
More than 20 consultants have also been named on the quarterly tax defaulters lists with five on the latest list published by Revenue yesterday which covers the period to the end of March.
Of the medical consultants listed, the largest settlement was made by Christine Jennings of Templeogue, Dublin, with tax, interest, and penalties totalling €432,355.
Ms Jennings’ case related to an under-declaration of PAYE/PRSI and income tax.
Two medical consultants based at the Galway Clinic, Doughiska, Co Galway, made settlements in relation to the underdeclaration of income tax.
Denis Quill’s settlement totalled €428,451, while his colleague, Oliver McAnena, made a €359,482 settlement.
Patrick Treacy of Ballsbridge, Dublin 4, settled with Revenue for €137,897, while Connail McCrory of Foxrock, Dublin 18, made a settlement of €54,920.
Overall, Revenue recouped nearly €25m from 100 settlement cases in the first quarter of the year — led by a €7m case relating to a company director in Dublin.
Michael Murphy, of Rathgar, was hit for unpaid tax of nearly €2.4m. Interest and penalties took his settlement to €7m.
Part of Revenue’s offshore assets investigations, Mr Murphy’s case related to the under-declaration of income tax, Vat, and capital gains tax.
He was director of Astondale Investments, a property management firm liquidated earlier this year.
Two other cases topped the €1m mark. James Spollen, a company director from Tullamore, settled for just over €1m after under-declaring income tax, while retired company director John Tierney made a near €1.5m settlement in another offshore assets investigation case.
In total, Revenue’s investigation into offshore assets and funds yielded €9.2m in the period. Fifty-two of the latest settlements were for amounts exceeding €100,000.
Six of these were over €500,000. Twelve of the cases related to persons in Cork.
There was a rise in the value of tax settlements; the final two quarters of last year saw Revenue recoup €14m and €17m respectively.