THE IRISH Auctioneers and Valuers Institute (IAVI) will have no problem advising members to co-operate with requests for information from the Revenue Commissioners - but not until its members are protected by law from the risk of being sued by clients, says its chief executive Alan Cooke.

The IAVI consulted tax solicitor Julie Burke of J M Burke tax solicitors about Revenue's demand to trawl agents' files in 2003 - and she advised that Revenue may not under current legislation carry out such a trawling exercise of unnamed clients' files. The IAVI informed members and Revenue of its legal advice but Revenue continued to seek information regarding overseas properties bought by Irish taxpayers.

In December 2007, Revenue informed IAVI member Savills HOK that it intended visiting its offices in January to seek information about all overseas property bought by unnamed Irish taxpayers from the firm's records. Savills HOK told Revenue that whilst it has at all times complied and intended to continue to comply with Revenue's requirements under relevant tax legislation, it had been advised that Revenue did not have the power to make this request. On December 17th, 2007, Savills HOK applied to the High Court for injunctive relief and judicial review of the matter. Last week, Revenue informed Savills HOK that its request for information from the firm's records was withdrawn. Accordingly, High Court proceedings have been withdrawn.