(Alliance News) - Waste management services provider Augean PLC said Wednesday that unit Augean North Ltd has received a landfill tax assessment of GBP2.9 million by the Her Majesty's Revenue & Customs for the period from October 31, 2017, through to April 30, 2018.
The UK tax department is also considering whether penalties may be appropriate and there may be other final assessments for other time periods for both Augean North and Augean South, the company added.
The company said tax bill came in line with estimates and will be appealed in a tax tribunal expected in 2020.
Augean continues to believe, based on legal advice, that it has paid the correct amount of landfill tax and that the government's tax assessments are incorrect. It has made no financial provision for the tax assessments.
Shares in Augean closed 1.3% lower at 117.00 pence each on Wednesday.
