Augean gets £1.6m landfill tax refund
The figure is part of the £40.4m of disputed landfill tax assessments which the group paid in full in December.
Augean said it intends to seek interest and costs from HMRC in addition to the repayment. The repayment will be treated as an exceptional profit in the group results for the year to December 31.
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Hide AdThe group is waiting for a decision on another more significant element, worth around £16m of the disputed landfill tax, from the First Tier Tax Tribunal which was heard in September.
Jim Meredith, executive chairman of Augean, said: “The group is pleased to have received notification of HMRC’s repayment.
“Nonetheless it is disappointing that the process with regard to this small element of the overall claim has taken more than three years to reach the right outcome.
“Based on legal advice received, we continue to maintain our position that we have correctly collected and paid the appropriate landfill tax throughout, and we will continue to robustly challenge the disputed remaining assessments that have been paid in full through the tax tribunal system.”
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Hide AdAugean recently said that Covid-19 has hit nearly all of its divisions.
The most heavily impacted areas include radioactive, biomass EfW and construction, which were all placed on hold due to lockdown restrictions.
The group has remained fully operational throughout the year to date with safe working measures in place to mitigate impact of the pandemic. However, it said Covid-19 has hit all divisions with the exception of the residential EfW ash segment.
Augean said the first quarter generated more than two thirds of its half year profits.
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