Augean Plc Landfill Tax Repayment of GBP1.6 million by HMRC (1249D)
26 Ottobre 2020 - 08:00AM
UK Regulatory
TIDMAUG
RNS Number : 1249D
Augean Plc
26 October 2020
Augean plc
("Augean" or "the Group")
Landfill Tax Repayment of GBP1.6 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 GBP1.6m of Landfill Tax to the Group. The amount
relates to a single biomass customer and is part of the GBP40.4m 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 GBP16m 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
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