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| Name | Symbol | Market | Type |
|---|---|---|---|
| Sparkco2etcsec | LSE:CO2P | London | Exchange Traded Fund |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -68.00 | -1.24% | 5,437.00 | 5,364.00 | 5,510.00 | 5,741.50 | 5,355.50 | 5,477.00 | 1,309 | 16:29:33 |
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21 January 2013
CarbonDesk Group PLC
("CarbonDesk" or the "Company")
Statement regarding HM Revenue & Customs
CarbonDesk announces that it has received a claim by HM Revenue & Customs ("HMRC") to disallow input tax on carbon trading transactions conducted by the Company in the months of June and July 2009. The sum claimed by HMRC from the Company amounts to £95,484,820 plus accrued interest.
The Directors of CarbonDesk strongly dispute that there is any basis for the claim by HMRC and will contest it thoroughly. To that end, the Directors of CarbonDesk intend to request an immediate independent Tribunal review of HMRC's decision.
In the course of its trading history and for the purpose of applying appropriate checks and risk avoidance measures, CarbonDesk has been scrupulous and diligent in obtaining and following guidance from Value Added Tax and legal professionals of high calibre and reputation.
As a result, the Directors of CarbonDesk are perplexed by HMRC's claim. They are, however, confident that the position taken by HMRC, in an area of VAT law which arguably lacks clarity and consistency, will ultimately be found to be erroneous after the claim is tested at the independent Tribunal, if not before.
The Directors of the Company accept responsibility for the announcement.
--ENDS--
Enquiries:
CARBONDESK GROUP PLC
Brett Stacey / Daniel Edelman / Peter Holmes
Daniel.Edelman@theCarbonDesk.com
Peterhouse Corporate Finance Limited
Fungai Ndoro / Eran Zucker
Tel: 020 7469 0932
Copyright y 21 PR Newswire
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