Augean North HMRC Assessment
Updated : 07:03
Augean plc
("Augean" or "the Group")
Augean North HMRC Assessment
Augean, one of the UK's leading specialist waste management businesses has further to previous announcements and as anticipated, been issued with a final assessment and payment demand from HMRC for Augean North Ltd for a total amount of £9.4million (£10.1million including interest) covering the period from August 2014 to August 2017. HMRC is considering whether penalties may be appropriate.
Whilst the Group acknowledges the positive and welcome move to issue the final assessment for Augean North Ltd, we still believe that this assessment is without merit and maintain our position based on the legal advice received and independent reviews of our systems.
The Group will take all appropriate legal channels to challenge the assessment received and seek to mitigate payment of the tax until these legal appeals have concluded.
The scale of the Augean North assessment should not be used to compare with the pre-assessment notification of £45.1m received in April 2018 as the Group has yet to receive the final assessment for Augean South Limited and will issue a further announcement once it does.
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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
| 020 7496 3000 |
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