Man who hoped to make €2m from selling homes to 'big spenders' left with €61k tax bill

He expected to achieve a €500,000 profit on the first house, which would enable him to build the second, and so on, the Tax Appeals Commission heard

The man failed in his appeal at the Tax Appeals Commission against a Revenue Commissioners assessment of €61,281. File photo 

A taxpayer who said that he once expected to make a profit of €2m from building and ‘flipping’ a few houses to ‘big spenders’ on a 4.5-acre site in the countryside has been left with a tax bill of €61,281.

This follows the man failing in his appeal at the Tax Appeals Commission (TAC) against a Revenue Commissioners assessment of €61,281.