- Waste management group Augean said it had been issued with a notice of intended penalty from UK tax authorities for £4.6m.

The notice applied to subsidiary Augean South and covered the period starting 1 June 2013 and ending 30 May 2018.

Her Majesty's Revenue and Customs, or HMRC, intended to issue the penalty on 30 August, Augean said.

'The group will vehemently challenge and appeal this intended penalty with the tax tribunal expected in 2020,' the company added.

'The group continues to believe, based on legal advice, that it has paid the correct amount of landfill tax and that HMRC's assessments and intended penalty are incorrect.'

'No financial provision will be made for HMRC's assessments or the intended penalty based on legal advice received.'

At 2:21pm: [LON:AUG] Augean PLC share price was -14.5p at 98p

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