Augean Plc Update re: Augean North HMRC Assessment (6392E)

TIDMAUG

RNS Number : 6392E

Augean Plc

19 October 2018

Augean plc

("Augean" or "the Group")

Update re: Augean North HMRC Assessment

Augean, one of the UK's leading specialist waste management businesses has been re-issued with a final assessment from HMRC for Augean North Ltd for a total amount of GBP1.1million (GBP1.3million including interest) covering the period from August 2013 to July 2014. This compares to the previously assessed amount of GBP2.8million. This re-assessment is in addition to the GBP9.4m final assessment for Augean North announced on October 8(th) 2018 which covers the time period from August 2014 to August 2017.

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.

The reduction in this Augean North re-assessment should not be used to read across to the other quarters that were included in the announcement of October 8(th) , notably the period from August 2014 to August 2017.

- Ends -

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 [e-mail] or visit www.rns.com.

END

MSCEAFENFDDPFFF

(END) Dow Jones Newswires

October 19, 2018 07:35 ET (11:35 GMT)