Adam Maxwell Cox, 34, of West Launceston, and Mark Paul Phillips, 25, of Newstead, have been jointly charged with aggravated sexual assault and a bashing.

Mr Cox has also been charged with trafficking about $500,000 of methylamphetamine and dealing in the proceeds of crime,  namely $28,800, alleged to have been found at his Neika Avenue home on Monday. 

According to court documents, Mr Cox and Mr Phillips have been jointly charged with sexually assaulting a man by penetrating his rectum with a broom handle and a glass beer bottle on February 11.

The defendants have also been charged with assault by allegedly setting fire to the man's body using flammable liquid and tying him to a punching bag. 

The men were charged with assaulting the man by allegedly tying him to a pole for several hours on February 4 and hitting him with a baseball bat, machete and fists.

They face an aggravated assault charge of tying a loaded double-barrel shotgun to his leg while he was tied to a pole. 

Police will allege the first assault lasted for about eight  hours and the last assault for about 17 hours.

Mr Cox and Mr Phillips were arrested following Monday's raids and appeared in the Launceston Magistrates Court yesterday.

They did not enter pleas to the charges. 

Mr Cox was remanded in custody to appear in court on March 3. 

His co-accused was granted bail and ordered to appear in court for plea on  March 14.