Chargeable Event Certificate settlement with HMRC

RNS Number : 2980P

Hansard Global plc

05 June 2015

 

Hansard Global plc

Chargeable Event Certificate settlement with H M Revenue & Customs ("HMRC")

Hansard Global plc ("Hansard" or "the Group"), the specialist long-term savings provider, reported in May 2014 that it had provided £5.0 million to correct for shortfalls identified around the issuance of Chargeable Events Certificates required by HMRC.  Following negotiations with HMRC, a full and final settlement has been agreed in the amount of £1.4 million on an estimate of tax lost basis (incorporating a penalty of £8,000).  Taking into account professional and advisory fees, this will result in the release of £3.3 million into the IFRS profit and loss account for the quarter ending 30^th June 2015.

For further information:

Hansard Global plc [phone]

Gordon Marr, Group Chief Executive Officer

Tim Davies, Chief Financial Officer

Bell Pottinger [phone]

Daniel de Belder

 

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