Augean Plc

Landfill Tax Repayment of £1.6 million by HMRC

RNS Number : 1249D
Augean Plc
26 October 2020
 

Augean plc

("Augean" or "the Group")

 Landfill Tax Repayment of £1.6 million by HMRC

 

Augean, one of the UK's leading specialist waste management businesses, announces that it has been notified by HMRC that it will be repaying £1.6m of Landfill Tax to the Group. The amount relates to a single biomass customer and is part of the £40.4m of disputed Landfill Tax assessments which the Group paid in full in December 2019.

The Group intends to seek interest and costs from HMRC in addition to the repayment. The repayment will be treated as an exceptional profit in the Group results for the year ending 31 December 2020.

The Group awaits the decision of another more significant element worth approximately £16m of the disputed Landfill Tax from the First Tier Tax Tribunal which was heard in September 2020.

Jim Meredith, Executive Chairman of Augean, said:

 

"The Group is pleased to have received notification of HMRC's repayment.  Nonetheless it is disappointing that the process with regard to this small element of the overall claim has taken more than three years to reach the right outcome. Based on legal advice received, we continue to maintain our position that we have correctly collected and paid the appropriate landfill tax throughout, and we will continue to robustly challenge the disputed remaining assessments that have been paid in full through the tax tribunal system." 

 

-  Ends -

 

 

Enquiries:

 

Augean plc

Jim Meredith, Executive Chairman

Mark Fryer, Group Finance Director

 

01937 844 980

N+1 Singer

Shaun Dobson

Peter Steel

Jen Boorer

 

020 7496 3000

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCBRBDGRDDDGGU