Mrs FitzPatrick has €1.1m cash in banks -> http://www.independent.ie/national-news ... 57198.html

One wonders what high-flying job Mrs Fitz had to be banking such huge figures.

Call in the Criminal Assets Bureau!

Does this explain the clearing of Mrs F-word's loans i.e. they were cleared to leave such a balance intact or is there an entirely plausible explanantion? If I have only thought of this I guess it will have been discussed on here last month so apologies in advance.

One wonders will anyone actually ask that question.

Will she do a Bertie and claim she won it on the gee-gees?

Otherwise she could have a large tax bill arriving.....

Wonder how much she would have solely in her own name, is this is the scale of the 'joint' accounts?

Not sure if this is posted elsewhere.

Sorry to disappoint but she can say that her husband gifted it to her.

Thought any transaction in last x years which reduced his assets at the expense of his creditors could be reversed by the court?

I see Seanie has been hit with a massive tax bill + surcharges + interest
It goes back to 1997!!

As I understand it if you deliberately avoid tax they can go back as far as they like and catch you at anytime, ie 20 years after the event at which point the interest could be greater than the actual income etc

But lets say, you declare income as a capital gain, the revenue accepts the retrun and the tax...Yet 10 years later they come back and say they reckon it should have been classified as income tax. What rights do you have in this case, ie you declared the income, but they later dispute the nature of it with you. Is there a finite amount of time they have to question this?
Only reason I ask, is that I am paranoid that you declare income from actively trading an S&P future for example as capital gains and then 20 years from now they really screw you over by going back and saying "You know what, that was income!"

Wasn't this in the papers last week?

Edit: yes it was. Another Indo investigative special lifted from another newspaper

http://www.irishtimes.com/newspaper/fin ... 56496.html

FitzPatrick's wife had €1.6m bank balance this year, court papers show

CATRIONA FITZPATRICK, wife of the former chairman of Anglo Irish Bank, Seán FitzPatrick, had bank balances totalling more than €1.6 million earlier this year.

She also had an interest in an investment fund that was worth more than a quarter of a million euro, according to documents filed with the courts as part of her husband’s bankruptcy

So Sean Fitzpatrick has a 3.5 million tax bill going back 13 years.

Since Sean Fitzpatrick is bankrupt, can they go after the wife's lolly? Should he have gifted money to her when he owed it to Revenue?

It is worth noting that he does not appear to have transferred the family home into her sole name, such a transfer could be reversed.

I don't believe that there is anything that can be done regarding a gift. Company law differs.

Even though he stll enjoys the benefits of the gifted money?

Is it criminal to underpay tax? Is she benefitting from the proceeds of a crime?

+1

Surely money owed to the Revenue cannot be given away as a gift?

Are we total fkn mugs?