(Alliance News) - Augean PLC on Monday said it has filed a claim with the UK tax office for repayment of GBP11.1 million of landfill tax.
The hazardous waste treatment and disposal company said the claim against HM Revenue & Customs includes interest overpaid in relation to engineering materials used as part of its landfills cell construction.
Augean added that the claim is partly a reclaim of landfill tax overpaid, as well as a set off against the GBP40.4 million landfill tax assessment paid in December 2019. The period of the claim dates back to August 2013.
"The group has watched with interest the waste industry's progress in its legal claims against HMRC. It seemed appropriate for the group to follow the rest of the industry in making claims, particularly having paid the assessments in full in December 2019, and the group hopes to see a repayment of tax following the Court of Appeal decision," said Executive Chair Jim Meredith.
For 2019, the Walton, UK-based company reported pretax loss of GBP15.3 million as it booked a GBP26.2 million charge related to the settlement of landfill tax assessments. In December, HMRC issued Augean South with a final assessment for GBP16.2 million from the period from February 2015 to May 2018, and in October a GBP11.4 million bill was issued to Augean North.
Augean shares were trading 3.7% higher at 151.96 pence each on Monday afternoon in London.
By Ife Taiwo; ifetaiwo@alliancenews.com
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