2nd Nov 2018 09:44
LONDON (Alliance News) - Waste management firm Augean PLC on Friday said it has received a further tax demand from UK tax collector HMRC.
HMRC has issued a landfill tax bill of GBP18.4 million to Augean South Ltd for the period from September 2014 to May 2018, and Augean expects a further assessment for the period from June 2014 up to September 2014.
Back in October, Augean had received a GBP10.5 million bill, rising to GBP11.4 million including interest, for Augean North Ltd.
Augean said: "We still believe this pre-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 pre-assessment received and seek to mitigate payment of the tax until these legal appeals have concluded."
Shares were down 6.5% on Friday morning at a price of 43.95 pence each.
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