Augean PLC - Wetherby-based waste management company - To receive GBP1.6 million repayment from UK tax office HMRC. Says amount relates to a single biomass customer and is part of the GBP40.4 million of disputed landfill tax assessments which the company paid in full in December 2019. Adds it intends to seek interest and costs from HMRC in addition to the repayment.
Augean notes it is still awaiting the decision of another more significant element worth around GBP16 million of the disputed landfill tax from the First Tier Tax Tribunal which was heard in September 2020.
"The group is pleased to have received notification of HMRC's repayment. Nonetheless it is disappointing that the process with regard to this small element of the overall claim has taken more than three years to reach the right outcome. Based on legal advice received, we continue to maintain our position that we have correctly collected and paid the appropriate landfill tax throughout, and we will continue to robustly challenge the disputed remaining assessments that have been paid in full through the tax tribunal system," says Executive Chair Jim Meredith
Current stock price: 203.90 pence
Year-to-date change: down 8.2%
By Ife Taiwo; ifetaiwo@alliancenews.com
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