Supreme Court rejects claim €3m west Cork holiday homes sale had no VAT liability

Three men who claimed a tax planning scheme meant they did not have to pay VAT on the €3m sale of 15 holiday homes in west Cork have lost their Supreme Court appeal arising from decisions the scheme had "no commercial reality" and constituted an "abusive practice" as defined by the Court of Justice of the EU.

The proceedings by Edward Cussens, John Jennings and Vincent Kingston arose after the Revenue Commissioners said the complex scheme concerning the development at Baltimore did not permit them sell their freehold interests without paying VAT.