Finance « Thurles Information

Tipperary Revenue Defaulter Published

Revenue Commissioners

Mr Padraig O’Shea with an address at Borrisoleigh, Thurles, Co Tipperary, made a settlement of over €705,619.00 with the Revenue Commissioners, arising from the under-declaration of income tax, according to the latest list of tax defaulters published (Quarter 2, 2012) by Irish Revenue this afternoon.

Mr O’Shea’s profession is listed as a manager/operator of a private school in Borrisoleigh, Thurles, Co. Tipperary.

Revenue declare that Mr O’Shea had been found to have under-declared income tax in a revenue deposit interest case and that the total tax bill was for €346,059, plus €100,016 in interest and plus €259,544 in penalties.

In total there were 106 cases published nationally, totalling €19.8m for the three months to June 2012. Of these cases, 43 were for amounts exceeding €100,000, 11 exceeded €500,000 and three exceeded €1m.

Mr O’Shea hit the news headlines earlier this year, when he remained unrepentant following a Children’s Ombudsman investigation and report which ruled that his private school had discriminated against a pregnant 16-year-old teenager. The unnamed teenager claimed she had applied for a place at St Joseph’s College, Borrisoleigh, during her pregnancy in 2009 and again after giving birth in 2010, but was refused admission on both occasions.

Winner Of Thurles Credit Union Members Draw

The winner of the Thurles Credit Union Cash Draw for September 2012 was Daniel O’Connell. Lucky Daniel who wins the first prize of €10,000, hails from Ard Na Croise, here in Thurles.

Pictured here at the presentation are Donal Scannell (CEO) Thurles Credit Union, Daniel O Connell (First Prize Winner) and Maureen Dorney (Sister).

Congratulations go also to the other cash prize winners: Patrick Shanahan, Matthew Avenue; Mary Daly, Collins Park; Fiona Barry, Ballycurrane and Brendan Maurice Butler, Newtown, Holycross.

Well done and congratulations to all the winning members, on their good fortune.

Thurles Credit Union, is situated at Credit Union House, Parnell Street, here in Thurles, Co. Tipperary and their business opening hours at the Thurles Office are as follows:- Monday: 9.45am – 5.00pm, Tuesday: 9.30am – 5.00pm, Wednesday: Closed, Thursday: 9.30am – 5.00pm, Friday: 9.30am – 5.00pm, Saturday: 9.30am – 5.00pm.

Thurles Credit Union Report Student Loans Increase

Thurles Credit Union has reported a significant increase in applications for student loans ahead of the 2012 / 2013 academic year. The Local Credit Union believe that the increase in the third level registration fee (€2,250) combined with the significant increase in day to day costs of going to college, has forced many students & their parents to borrow in order to meet this necessary cost.

I am aware that recent research carried out by the Irish League of Credit Unions in the last 12 months indicates that students (72%) are still relying heavily on their parents to help fund their 3rd level education. On top of academic fees, average monthly spend (excluding rent and bills) stands at approximately €480. Half of the students surveyed rented accommodation during the college year paying €330 -€350 for rent, plus €70 – €90 on average for other necessary bills each month. e.g Utilities like Gas, Electricity, Heating & Waste Disposal Charges, often not factored into the overall equation.

This research also found that 55% of students are forced to work part-time throughout their academic year, with 33% skipping University lectures to enable them to do so. Financial issues (68%); fear regarding the passing exams (68%) and not getting a job after college (64%) are the greatest worries for Irish students.

Speaking to Thurles.Info earlier today on these issues, Mr Donal Scannell, CEO of Thurles Credit Union stated: “The significant cost of third level education puts phenomenal pressure on both parents and students starting or returning to 3rd level education this year. The increased registration fees combined with monthly rent and bills, books and materials and day to day expenses are a significant financial burden to many families. We have also seen the removal of financial assistance to postgraduate students. In the last budget, the postgraduate maintenance grant was scrapped making it even harder for students to attain postgraduate qualification.

Thurles Credit Union is available to support both parents and students as they prepare for the academic year. Thurles Credit Union offers one of the most competitive personal, student and education loan rates on the market. We encourage anyone who is looking to finance their education or who simply want some advice on planning ahead or budgeting to call into Thurles Credit Union and speak to a member of staff. Planning ahead where possible is the best way to prepare for these expenses.”

So we asked Donal the following question; “What can Thurles Credit Union really offer to students at this important stage in their academic lives?”

We share with you Donal’s advice, which is as follows:-

Continue reading Thurles Credit Union Report Student Loans Increase

Target Express Cease Trading

Revenue Commissioners

Target Express, the trading name for College Freight, is just one of an expected five or six large haulage companies, which will cease trading before Christmas, according to Eoin Gavin the president of the Irish Road Haulage Association.

Target Express ceased trading yesterday with the loss of 398 jobs, claiming that the company was forced to closed because of ‘tough tactics,’ adopted by the Irish Revenue Commissioners. The company had been in business since 1988 with big named clients which included A-Wear and Smyth’s Toys & is currently the main sponsors of the Tyrone Gaelic football and hurling teams. The company claims it was forced to cease trading yesterday when the Revenue froze its bank accounts, thus disallowing payment to known creditors & its workforce.

The company has a network of depots and hubs nationally, including rented space at the Germinal Seeds plant near the Horse & Jockey, Thurles, here in Co Tipperary. Around 300 of jobs lost are based in Southern Ireland with the remainder in the North.

The companies managing director Mr Seamus McBrien claims that the Revenue Commissioners rejected, yesterday, a deal which would have seen the company pay off a further €175,000 of their overall outstanding liability of €300,000 & because of this action 398 people had lost their jobs as a result of Revenue insisting on receiving the additional €125,000.

However, based on previous stances by the Revenue Commissioners in dealing with similar companies which are found to be non compliant & defaulting taxpayers, these same companies are viewed correctly as competing unfairly and in an unfair environment. Revenue are aware, from bitter experience, that usually non compliant traders end up destroying the businesses of other law abiding competitors who remain fully compliant and meticulous in carrying out their everyday financial responsibilities.

However Target Express company employees, now forced to apply for social welfare at the full rates, will cost us, the taxpayer, at least an estimated €2.9million, over the next 12 months.

The issues of dealing with non tax compliance, particularly in the light of recent cases already highlighted in the media, e.g. Mr Paul Begley of Begley Brothers, Mr Sean Hartigan of Prestige Recycling, Mr Mick Wallace TD, & now Target Express, must surely raise considerable national debate, in the interests of employees, fair trading, our Irish State and my opening statement.

Thurles Credit Union Members Cash Draw

The names of the winners of the Thurles Credit Union Members’ Cash Draw were formally announced today.

The winner of the August Cash Draw was Mrs Noreen Higgins, Knockroe, Thurles, Co Tipperary.

Pictured here, left of your screen and presenting first prize at the formal presentation (Left to Right,) Donal Scannell (CEO) Thurles Credit Union, Mrs Noreen Higgins (Winner) with her husband Mr Tom Higgins. (Click on image for larger picture.)

Congratulations to all the other cash prize winners named as follows:- Mr Danny Meaney, Kylenoe; Mr Kevin & Mrs Audrey Fallon, Rosemount; Ms Breda O’Reilly, Beakstown and last but by no means least Mr Michael Ferncombe, Clohane.

Well done and congratulations to all winning members, on their good fortune.