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Augean Plc (AUG)

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Wednesday 31 July, 2019

Augean Plc

HMRC Assessment Notification

RNS Number : 4418H
Augean Plc
31 July 2019
 

Augean plc

("Augean" or "the Group")

 Augean North HMRC Assessment Notification

 

Augean, one of the UK's leading specialist waste management businesses, has been issued with a final assessment from HMRC for Augean North Limited for a total amount of landfill tax of £2.9m (£3.1m including interest) covering the period ending 31 October 2017 through to 30 April 2018.

 

This assessment was anticipated and advised with Group Interim Results issued on 17 July. The value is as expected. The Group will appeal the assessment with the tax tribunal expected in 2020. The Group continues to believe, based on legal advice, that it has paid the correct amount of landfill tax and that HMRC's assessments are incorrect. No financial provision will be made for HMRC's assessments based on legal advice received.  HMRC is considering whether penalties may be appropriate and there may be other final assessments for other time periods for both Augean North and Augean South.

 

 

-  Ends -

 

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation.

 

 

Enquiries:

 

Augean plc

Jim Meredith, Executive Chairman

Mark Fryer, Group Finance Director

 

01937 844 980

N+1 Singer

Shaun Dobson

Jen Boorer

0207 496 3000

 


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