By Matthew Roscoe • 05 November 2020 • 21:18
FORMER BHS owner Dominic Chappell has been jailed for six years for tax evasion after failing to pay £584,000 in taxes.
53-year-old Chappell, despite splashing out on luxurious items such as a £90,000 yacht, a Bentley Continental car, and a Bahamas holiday, was convicted of evading VAT, corporation tax and income tax.
Chappell, who failed to pay the tax on the £2.2m income he received after buying the now collapsed chain for £1 in 2015, told the court he was “simply too busy” to sort out his business dealings properly.
However, judge, Mr Justice Bryan, told him: “You were not overwhelmed by your other pressures, and you were not too busy or under too much pressure to spare the time to buy yourself trappings of luxury with monies that would have been better deployed to pay the taxes due.”
BHS, which was a major recognised high street brand for 88 years, collapsed in 2016 costing 11,000 jobs and leaving a gaping pension deficit.
The charges related to Chappell’s personal services company Swiss Rock, where he was a director, which was paid to facilitate the purchase of BHS by Retail Acquisitions Ltd.
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Originally from the UK, Matthew is based on the Costa Blanca and is a web reporter for The Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at [email protected]
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