Former BHS owner Dominic Chappell reportedly owes more than £500,000 in tax on the profits he made while he owned the now defunct department store chain.
BHS Sutton Coldfield
HMRC has started legal proceedings to recover the money but Chappell has put the business that owes the tax, Swiss Rock, into liquidation meaning he may not have to pay, according to The Guardian.
Swiss Rock is understood to owe £365,000 in VAT and £196,306 in corporation tax, according to documents from by Chappell and David Rubin & Partners, which has been appointed as liquidator.
Swiss Rock was paid at least £1.6m by BHS as part of Chappell’s acquisition of the retailer.
Chappell told Drapers he had received no contact from HMRC and he refuted all claims that he has not paid his taxes.