15th Jul 2019 11:46
(Alliance News) - Waste management business Augean PLC on Monday maintained its position that it has paid the correct amount of landfill tax to UK tax collector HMRC.
The company confirmed that both of its subsidies Augean South and Augean North have now received hardship status, so it is allowed to defer any payment to settle the bill before the conclusion of the tax tribunal.
Augean received a bill totalling GBP34.7 million, but said that based on the legal advice it has sought, it does not need to make any more landfill tax payments. The tax tribunal case is expected in the first half of 2020.
Excluding interest, its unit Augean South Ltd was given a bill of GBP24.4 million covering the period August 31, 2013 until May 31, 2018. Augean North Ltd, another subsidy, was given a GBP10.3 million bill. Augean North's tax assessment was for the period from October 31, 2013 to July 31, 2017.
Shares in Augean fell 1.8% at 112.00 pence each in London on Monday morning.
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