Ex-BHS owner Dominic Chappell faces court over tax evasion charges

Dominic Chappell is accused of tax evasion and money laundering Credit: PA

Former BHS owner Dominic Chappell is to appear in court on Tuesday accused of tax evasion and buying two yachts to launder money.

The businessman, 52, was thrown into the spotlight in 2015 by his £1 purchase of BHS from retail tycoon Sir Philip Green, just over a year before it collapsed with the loss of 11,000 jobs.

Chappell is due to appear at the City of London Magistrates Court on Tuesday to face three charges of cheating the public revenue and two counts of money laundering relating to his bankrupt finance company Swiss Rock Limited.

The money laundering allegations relate to funds from the company being used to buy two yachts.

According to the charges, the first vessel, called Maverick 5, was bought for £182,500 in April 2015, just a month after the acquisition of BHS.

Another £230,000 was allegedly used to buy a second yacht called Maverick 6 five months later.

The tax evasion charges allege Chappell failed to register Swiss Rock for VAT from the correct date, provided false or misleading information to HMRC and failed to correct the taxman’s assessment of how much tax was due.

It is also alleged he provided false information to accountants, leading to an under-declaration of profits by Swiss Rock.