Final landfill tax bill totals £34.7m at listed waste management group
Wetherby waste management group Augean has been issued with a final assessment from HMRC for Augean South for £24.4m – making the total the firm has to pay out across its businesses to £34.7m.
This last bill for Augean South covers the period ending 31 August 2013 to 31 May 2018 and total £26.2m including interest.
The group has also been issued an amended and reduced final assessment for Augean North of £10.3m – £11.1m including interest – covering the period ending 31 October 2013 to 31 July 2017.
The amounts for which Augean has been assessed, excluding interest and penalties, total £34.7m, which the Board said was “as expected.”
Augean said: “The Group continues to believe, based on legal advice, that it has paid the correct amount of landfill tax and that HMRC’s assessments are incorrect/unjustified.
“Accordingly, it has appealed both the Augean South and Augean North assessments and the tax tribunal is expected in the first half of 2020. HMRC has agreed to the deferment of the payment of total tax assessed under Augean North until the outcome of the tax tribunal has concluded, and a similar deferment for Augean South has been applied for and is awaited.”
HMRC is considering whether penalties may be appropriate and there may be other final assessments for other time periods for both Augean North and Augean South.
Augean added that Andrew Bryce, Non-Executive Director, will retire from the Board with effect from 30 April 2019. He re-joined the Board in September 2017, just after the Group had received the initial assessments from HMRC, to help the Group map the path to determining any potential liability.
His retirement coincides with the receipt of the final assessments from HMRC which were as expected and the appeal will be handled by the Group’s lawyers, Simmons & Simmons.