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Ex-jockey Charlie Swan pays 123,000 euro in tax probe

Published 08/09/2015

Charlie Swan was investigated as part of an
Charlie Swan was investigated as part of an "offshore assets" inquiry

Former jockey Charlie Swan has been forced to hand over almost 123,000 euro as part of an investigation into tax defaulters.

The three-times winner of the Cheltenham Champion Hurdles on Istabraq was hit with the tax bill, interest and fines during an international probe in Ireland.

Dublin's Revenue officials said the ex-horse trainer was investigated as part of an "offshore assets" inquiry.

One of the Grade One successes for his Cloughjordan yard in Co Tipperary was a horse called Offshore Account.

The 46-year-old has been ordered to hand over 50,000 euro in undeclared tax income, 34,942 euro in interest payments and 37,500 euro in penalties.

Swan, 46, shocked the racing world earlier this year when he announced he was quitting the training ranks.

At the time, he told the Press Association: "It's just got a bit difficult, we don't have as many horses here now and it's time to get out really.

"With the costs of labour and everything else, the rising costs and less horses, it's not as easy as it was."

Swan is best remembered in his riding days as the partner of Istabraq for trainer Aidan O'Brien and owner JP McManus.

He retired from the saddle in 2003.

Also named in the latest Irish Revenue's tax defaulters list is Frank Dunlop, the shamed former government press secretary and lobbyist.

The public relations consultant, who was jailed in 2009 for corruption in a cash-for-votes planning scandal, made a settlement of 429,198 euro.

The bill included under-declared income tax, VAT, interest and fines.

Dunlop, with an address at Rathbeggan, Dunboyne, Co Meath, was probed as part of a Revenue investigation, officials said.

Five medical consultants are also exposed on the list as part of a continuing investigation into tax defaulters in the profession.

One of them, Onome Humphrey Ugbawa of Ocean Links, Strandhill, Co Sligo, has been forced to hand over 1.54 million euro to the tax man.

The settlement is the largest in the current list of 108 defaulters from between April and June this year.

Settlements for the period totalled 18.5 million euro.

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