Former BHS Tycoon Philip Green picks up £100million boat while staff face pension uncertainty
The retail boss could avoid paying any UK tax on the 295ft vessel
RETAIL tycoon Sir Philip Green got his £100million yacht yesterday but could avoid paying UK tax on it.
The 295ft vessel is being registered in Malta, which means it does not come under British safety, tax and employment laws.
It is another blow to the 11,000 staff left jobless when BHS collapsed after Green, 64, sold it for £1 last year.
The yacht, which sleeps 12 and has a swimming pool and beauty salon, took four years to build to wife
Tina’s exact specifications. Lady Green, 66, was applauded by grovelling staff as she boarded the boat in Malta with her dog, left.
It had sailed there from its shipyard in Livorno, Italy.
Last night, Sir Philip told The Sun he did not know why Lionheart was being registered on the island.
He said: “It’s only going to be there for ten minutes and then it will be gone.”
And he denied any suggestion that he would shirk standards when it came to taxes, safety or staff.
MPs are probing BHS’s demise and a £571million gap in its pensions fund.
Owner in road ban
THE man in charge of BHS when it collapsed faces losing his driving licence for speeding in his £75,000 Range Rover.
Dominic Chappell, 49, was caught at 63.9mph in a 40mph zone in Andover, Hants, in April.
He failed to appear at court yesterday but admitted the charge online.
Chappell, who bought BHS from Sir Philip Green for £1 last year, has ten points on his licence.
As the minimum punishment is three points and 12 means a ban, Aldershot JPs adjourned the case until August 8 “for a possible disqualification”.
Chappell, from Blandford Forum, Dorset, has defended himself against claims he took millions from failing BHS.