Augean Plc HMRC Assessment Notification (4418H)
July 31 2019 - 11:00AM
UK Regulatory
TIDMAUG
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 GBP2.9m
(GBP3.1m 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
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 rns@lseg.com or visit www.rns.com.
END
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