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  • 21 Dec 2018

HMRC agreement to defer tax payment pending outcome of tribunal

  • Singer Capital Markets
    • Singer CM Team

    • 3 pages


 

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HMRC agreement to defer tax payment pending outcome of tribunal

  • Published: 21 Dec 2018
  • Author: Singer CM Team
  • Pages: 3
  • Singer Capital Markets


In October, Augean received final assessments from HMRC for landfill tax for Augean North, which requested payment as soon as possible (it has yet to receive final assessments for Augean South). Augean and its legal advisors firmly believe that it has correctly collected and paid landfill tax, and management has previously noted that the group would challenge the assessments through all appropriate legal channels and seek to mitigate payment. Augean has now received agreement from HMRC to defer payment of the tax assessed for Augean North until the outcome of the tax tribunal has concluded. This is clearly a helpful development, but has no impact on our forecasts, which do not include the potential liability due to the ongoing uncertainty about its size, timing and probability.

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