Gayne Cooper, 61, who has two company directorships, appeared on bail at Croydon Magistrates’ Court.
The prosecution say £1.7m in VAT was fraudulently evaded.
He says the VAT figure is nearer £1.5m.
Cooper, of Stonehouse Farm, Plummers Plain was sent to Croydon Crown Court for sentencing on a date to be fixed.
He pleaded guilty to one count of being knowingly concerned in the fraudulent evasion of VAT between April 1, 2013 and December 10, 2019.
“The defendant has pleaded guilty to a serious offence,” announced District Judge Devinder Sandhu.
“It is a serious matter,” she told Cooper. “You have indicated a guilty plea to this court, which does not have sufficient sentencing powers to deal with you.”
Magistrates courts are limited to maximum sentencing powers of twelve months imprisonment.
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