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19 Oct 2018 | 13:14

Augean mulls legal challenge to new UK tax assessment

Waste management group Augean said it had been re-issued with a final assessment from British tax authorities amounting to £1.3m including interest.

The assessment for its Augen North unit covered the period from August 2013 to July 2014.

It was lower than a previously assessed amount of £2.8m, but was in addition to a £9.4m final assessment for Augean North announced earlier this month, which covered the 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,' Augean said.

'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.'

Augean said the reduction in the Augean North re-assessment should not be used to read across to the other quarters that were included in its previous announcement. At 1:14pm: (LON:AUG) Augean PLC share price was +3p at 50p

Story provided by StockMarketWire.com
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