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08 Oct 2018 | 14:34

Augean to challenge £9.4m tax payment demand

Waste management group Augean said it had issued with a final assessment and payment demand from UK tax authorities amounting to £9.4m.

Her Majesty's Revenue and Customs was considering whether penalties may be appropriate, the company added.

The payment demand related to the period from August 2014 to August 2017.

'Whilst the group acknowledges the positive and welcome move to issue the final assessment, 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 company said.

Augean said it would take 'all appropriate legal channels' to challenge the assessment and would seek to mitigate payment of the tax until the legal appeals had concluded.

At 2:34pm: (LON:AUG) Augean PLC share price was -4.5p at 47.5p

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