Dominic Chappell owes more than £500,000 to the taxman on the profits he made from owning BHS, the collapsed department store chain.
HMRC has started legal proceedings against the disgraced businessman to try to recover the money. However, Chappell has put the business that owes the tax, Swiss Rock Limited, into liquidation, meaning he could walk away without paying the bill.
Swiss Rock owes £365,000 in VAT and £196,306 in corporation tax, according to documents drawn up by Chappell and David Rubin & Partners, which has been appointed as liquidator.
The company is also listed as owing £56,000 in trade and expense and £15,000 to Chappell from a loan account. It has debts with Cornhill Capital, the City firm that advised Chappell bef…