Revenue Commissioners chase life assurance tax evaders

The Revenue Commissioner is preparing to seek a High Court Order to force a major life assurance company to reveal the names of customers suspected of using policies to evade tax.

It is expected to be the first in a series of court orders sought by the Commissioner in its investigation into people who used single premium policies since 1980 to evade tax.

About 5,000 people who held policies have already come forward, making tax settlements totalling €391m.

If the order is granted, the Revenue would be in a position to write to people later this year to demand payment.