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Dominic Chappell Arrested for Alleged Unpaid Tax

You remember Dominic Chappell right…that guy who bought BHS from Philip Green for only a pound? Well, he’s just been arrested.

The reason? While the full report isn’t in yet, they are saying he has an unpaid tax bill of £500,000. Who knows if this is true or not? However, it just goes to show the HMRC will go after you if they have reason to believe you might have done something wrong.

There has always been controversy surrounding this guy though, and around the time he purchased BHS there were many people calling for the whole issue to be investigated.

What some people in the media are saying has happened since the purchase is that BHS paid Chappell’s company, Swiss Rock, a payment of £1.6m, which HMRC have seen nothing of. Experts are estimating that he owes around £365,000 in VAT and nearly £200,000 in tax. Who knows if this is true though.

This comes at a time when many people are saying that Philip Green, the former owner of BHS should also be the focus of closer scrutiny. Let’s wait to see what happens on this one.

BHS, once a profitable company and one of the most successful on the high street, as you are no doubt aware, started to find it difficult to keep up with the competition, and it went on to cost 11,000 jobs as well as the pensions that employees paid into, totalling hundreds of millions.

After that, Philip Green then went on to sell it to Dominic Chappell for £1, and now we are at the point where Chappell has been arrested. Of course, right now he is simply accused of not paying tax, and nothing has been proven in a court of law. He could be totally innocent.

This comes at a time when Philip Green has been facing a lot of criticism, including calls to strip him of the “sir” title that he got awarded. Not only that, but the pension regulator has actually started legal proceedings against Philip Green. Let’s wait to see what happens there.

Ultimately though, when it comes down to it this doesn’t really have any implications for hard working contractors and freelancers out there who are going about their daily business. Sure, it’s interesting to read about these stories, but most people are more interested in doing something like finding the right accountant for their business or getting more clients in competitive industries.

 

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