News Details
Tribunal turns down McLaren spy-gate fine tax rebate
No luck in court for McLaren
McLaren have lost a claim that a record £32 million ($51.33 million) fine the Formula One team paid after a 2007 spying controversy should be tax deductible.
Britain's Revenue and Customs (HMRC) said in a statement on Wednesday that an Upper Tribunal, a superior tax court, had ruled in their favour, overturning a 2012 ruling at a first tier hearing that found for McLaren.
'We're very pleased the Upper Tribunal agrees that the fine should not be given tax relief, which supports our view that most fines are not allowable as deductions against trading income,' said Jim Harra, HMRC Director General of Business Tax.
McLaren had argued that the fine, originally set...
Full Story »
Full Story »
11y ago from GrandPrix247.com
0
You May Also Be Interested In...
Formula 1 stars not high up on Forbes rich list
Top three earners in Formula 1
The only Formula 1 star to make it into the...
11y ago from GrandPrix247.com
Mercedes Looking to Return to Winning Ways in Austria
The Mercedes-AMG PETRONAS team head into the Austrian Grand Prix after...
11y ago from TheCheckeredFlag....
Schumacher out of coma and discharged from hospital
Michael Schumacher
BBC reports that according to his family Formula 1...
11y ago from GrandPrix247.com
F1 world welcomes good news about Schumi
Michael Schumacher with Fernando Alonso
The Formula 1 world was united in...
11y ago from GrandPrix247.com
Elsewhere On The Network
Popular On MGPToday.com
Why Dani Pedrosa won't replace Maverick Vinales at Le...
No description available...
4h ago from Motorsport.com
Toprak Razgatlioglu: Yamaha struggles make me think...
No description available...
9h ago from Motorsport.com
Andrea Iannone returns to MotoGP paddock in...
No description available...
8h ago from Motorsport.com
Popular On IndyCarToday.com
IndyCar officiating board helps shape Push to Pass...
IndyCar’s new Independent Officiating Board has made one of its first...
4h ago from MotorsportWeek.c...
IndyCar expands Push to Pass availability
The NTT IndyCar Series has announced a change to the series’ Push to...
5h ago from MotorsportWeek.c...
FOX unveils plan for 60 hours of Indy 500 coverage
No description available...
1d ago from Motorsport.com
Motorsport legend Alex Zanardi dies aged 59
Ex-F1 and CART driver Alex Zanardi has passed away aged 59. His family...
3d ago from MotorsportWeek.c...
Popular On TotalWRC.com
How Ott Tanak can help Toyota's WRC 2027 car...
No description available...
8h ago from Motorsport.com
Why Hyundai’s WRC season “really starts” at...
No description available...
1d ago from Motorsport.com
M-Sport weighs up WRC new car build as all options...
No description available...
6d ago from Motorsport.com
Toyota steps up WRC 2027 car testing with new look...
No description available...
6d ago from Motorsport.com
Popular On GunnersToday.com
Liverpool eye explosive 19-year-old Arsenal target to...
Liverpool and Arsenal are interested in signing the Bournemouth attacker...
1h ago from CaughtOffside.com
'Needs to lock the f**k in' - Fans question Diego...
Atletico Madrid fans online were left disappointed with Giuliano Simeone...
1h ago from SportsKeeda.com
Arsenal v Atletico Madrid – live blog
Join us for live blog coverage of our Champions League semi-final second...
1h ago from Arseblog.com
'Holding bench', 'Arteta has seen light' - Arsenal...
Arsenal fans are delighted to see Martin Zubimendi benched by Mikel Arteta...
1h ago from SportsKeeda.com
Comments
Hottest News
Mercedes braced for FIA scrutiny on Alpine F1 bid
Mohammed Ben Sulayem has hinted at a potential... Read More »
2h ago from MotorsportWeek.com
Adrian Newey builds rocket ship faster than any F1 car, but...
Adrian Newey's F1 genius has contributed to a... Read More »
1h ago from GPFans.com
Montoya rips apart ‘disrespectful’ Verstappen: ‘Park...
Former F1 driver Juan Pablo Montoya has heavily... Read More »
3h ago from F1i.com
