Son of former Shannon Homes owner wins appeal against tax bill for millions of euro

A member of the family behind the house building firm Shannon Homes has won a legal action which could have resulted in them having to pay millions in capital acquisitions tax (CAT), writes Ann O'Loughlin.

The Court of Appeal ruled the High Court was wrong in finding that a son of one of Shannon's former owners, Joseph Stanley Snr, was not covered by a four-year time limit for assessing him for CAT over a 2007 transfer of the father's assets to his sons.