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AUG - Augean News Story

152p -1.0  -0.7%

Last Trade - 21/10/19

Sector
Industrials
Size
Small Cap
Market Cap £159.3m
Enterprise Value £136.4m
Revenue £95.9m
Position in Universe 849th / 1816

Augean Plc - HMRC Intended Penalty Notification

Fri 2nd August, 2019 7:00am
RNS Number : 6510H
Augean Plc
02 August 2019
 

Augean plc

("Augean" or "the Group")

 Augean South HMRC Intended Penalty Notification

 

Augean, one of the UK's leading specialist waste management businesses, has been issued with a notice of intended penalty from HMRC for Augean South Limited for a total amount of £4.6m covering the period starting 1 June 2013 and ending 30 May 2018. HMRC intend to issue this penalty on 30 August 2019. No further announcement in this regard will be made unless the intended penalty is withdrawn or is issued for an amended value.

 

It was advised with the Group's Interim Results issued on 17 July 2019 that penalties could be issued. The Group will vehemently challenge and appeal this intended penalty with the tax tribunal expected in 2020. The Group continues to believe, based on legal advice, that it has paid the correct amount of landfill tax and that HMRC's assessments and intended penalty are incorrect. No financial provision will be made for HMRC's assessments or the intended penalty based on legal advice received.

 

 

-  Ends -

 

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation.

 

 

Enquiries:

 

Augean plc

Jim Meredith, Executive Chairman

Mark Fryer, Group Finance Director

 

01937 844 980

N+1 Singer

Shaun Dobson

Jen Boorer

020 7496 3000

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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