Less Ads, More Data, More Tools Register for FREE

Pin to quick picksAUG.L Share News (AUG)

  • There is currently no data for AUG

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Augean Shares Fall As HMRC Issues GBP10 Million Payment Demand

Mon, 08th Oct 2018 10:29

LONDON (Alliance News) - Shares fell in Augean PLC fell on Monday as it reported that it has been issued a final assessment and payment demand from HM Revenue & Customs for GBP10.1 million, including interest, for the period from August 2013 to August 2017.

Shares in the waste management business fell 11% at 46.17 pence on Monday.

The assessment is for subsidiary Augean North Ltd for the payment of landfill tax. HMRC also is considering whether penalties are appropriate.

In August 2017, Augean said HMRC issued an assessment to one of its subsidiaries for the three months ended August 2013, which the company claimed was issued in order to "protect HMRC against that period falling out of time" as a "four-year look-back applies for landfill tax".

Augean said the GBP10.1 million shouldn't be compared to the GBP45.1 million in tax assessments received from HMRC in April of this year, as that was for both Augean North and Augean South. Augean is yet to receive the final results of the assessment for Augean South.

"Whilst the group acknowledges the positive and welcome move to issue the final assessment for Augean North, 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," Augean said in its statement Monday.

More News
28 Jul 2023 17:26

Franchise Brands hires new finance chief after reporting revenue soars

(Alliance News) - Franchise Brands PLC on Thursday said it will appoint Mark Fryer to the board as chief financial officer, effective from Wednesday next week, after it reported rising revenue in the first half of 2023.

Read more
18 Oct 2021 18:22

IN BRIEF: Augean's takeover by Eleia sanctioned by court

IN BRIEF: Augean's takeover by Eleia sanctioned by court

Read more
5 Oct 2021 16:06

UK shareholder meetings calendar - next 7 days

UK shareholder meetings calendar - next 7 days

Read more
29 Sep 2021 09:23

UPDATE 2-Morrisons takeover battle will go to UK auction on Oct. 2

(Adds background)LONDON, Sept 29 (Reuters) - A $9.5-billion fight for British supermarket Morrisons will be decided at an auction on Saturday, when two U.S. private equity groups will go head-to-head in up to five rounds of bids.Britain's Takeover...

Read more
23 Sep 2021 10:02

TOP NEWS: Ancala and Fiera win auction for waste removal firm Augean

TOP NEWS: Ancala and Fiera win auction for waste removal firm Augean

Read more
23 Sep 2021 08:31

Eleia seals Augean takeover with £390m bid

(Sharecast News) - Augean is to be taken private in a £390m deal following a bidding war for the Aim-listed waste services firm.

Read more
23 Sep 2021 08:17

LONDON BRIEFING: Ancala and Fiera win Augean battle for GBP390 million

LONDON BRIEFING: Ancala and Fiera win Augean battle for GBP390 million

Read more
22 Sep 2021 13:39

IN BRIEF: Rival bidders for Augean enter compensation agreements

IN BRIEF: Rival bidders for Augean enter compensation agreements

Read more
16 Sep 2021 17:58

IN BRIEF: UK Takeover Panel to settle Augean bidding war by auction

IN BRIEF: UK Takeover Panel to settle Augean bidding war by auction

Read more
9 Sep 2021 18:16

TRADING UPDATES: Cohort gets contract extension; IQGeo wins new deal

TRADING UPDATES: Cohort gets contract extension; IQGeo wins new deal

Read more
8 Sep 2021 19:39

Augean agrees to increased takeover offer from Antwerp Management

Augean agrees to increased takeover offer from Antwerp Management

Read more
8 Sep 2021 12:08

EARNINGS UPDATES: Somero, Winkworth see bumper interim performances

EARNINGS UPDATES: Somero, Winkworth see bumper interim performances

Read more
25 Aug 2021 17:01

LONDON MARKET CLOSE: FTSE 250 outperforms amid hesitant market mood

LONDON MARKET CLOSE: FTSE 250 outperforms amid hesitant market mood

Read more
25 Aug 2021 11:21

UPDATE: Eleia's Augean bid has support from nearly 55% of investors

UPDATE: Eleia's Augean bid has support from nearly 55% of investors

Read more
25 Aug 2021 09:45

New GBP341 million Augean bid tops Morgan Stanley Infrastructure tilt

New GBP341 million Augean bid tops Morgan Stanley Infrastructure tilt

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.