Altada co-founder hit with €130,000 tax settlement

Allan Beechinor, the former co-chief executive of Altada Technology Solutions, made a tax settlement with the Revenue Commissioners earlier this year relating to underdeclared income tax.

The Cork businessman, who founded the company with his wife, Niamh Parker, appeared on the Revenue’s latest list of tax defaulters covering the period between April and June, published on Tuesday.

Mr Beechinor settled with the tax authority for €130,365 after an audit found he had underdeclared income tax liabilities of €81,054 to which interest and penalties totalling more than €49,000 were added.

Altada, which was targeting a €1 billion valuation last year, collapsed into receivership and liquidation in late 2022 before being sold to Dublin tech entrepreneur Eoin Goulding. Mr Beechinor, whose occupation is listed as “IT consultant”, has been approached for comment.

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[ Altada lenders told that €160m equity sale was ‘imminent’ ]

[ European ruling could prevent Revenue publishing quarterly list of tax defaulters ]

Also appearing on the list of defaulters is Dublin businessman David Cinnamond with an address in Balinteer, Dublin 16. Mr Cinnamond, a share dealer and director of Dublin company Atomis, which trades as Alternative Investment Systems, settled with Revenue for €461,961 in relation to an unpaid income tax bill of €269,307.

Donal O’Sullivan, a company director from Straffan, Co Kildare, separately made an income tax settlement with Revenue for €250,457.

Mr O’Sullivan, who is listed in Companies Registration Office documents as a director of a JCB dealership in Dublin 12, had liabilities totalling €178,094.

In total, Revenue said it settled with 14 individuals over the period for €3.7 million.

In two cases, it said the settlement had not been fully paid by the end of June and €602,955 was the total amount unpaid at that time.