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
Fabio Quartararo: Yamaha ‘has no idea’ how to fix...
No description available...
5h ago from Motorsport.com
Marco Bezzecchi ‘wasn’t expecting’ Aprilia COTA...
Marco Bezzecchi admitted he “wasn’t expecting” a record-breaking...
6h ago from MotorsportWeek.c...
What happened in Marco Bezzecchi and Pedro Acosta’s...
No description available...
9h ago from Motorsport.com
Winners and losers from MotoGP’s United States GP
No description available...
11h ago from Motorsport.com
Popular On IndyCarToday.com
Pato O’Ward left searching for answers after...
No description available...
4h ago from Motorsport.com
Christian Lundgaard left frustrated by costly pit stop...
Christian Lundgaard finished second in Sunday’s IndyCar race from...
8h ago from MotorsportWeek.c...
David Malukas “learned a lot” with tire strategy...
No description available...
5h ago from Motorsport.com
Mick Schumacher: “I thought I was ready — but I...
No description available...
21h ago from Motorsport.com
Popular On TotalWRC.com
Former FIA vice president and WRC boss Morrie Chandler...
No description available...
1d ago from Motorsport.com
Subaru teases new rally car for Japanese Championship
No description available...
4d ago from Motorsport.com
How Toyota’s new flying Finn is starting to make WRC...
No description available...
4d ago from Motorsport.com
Takamoto Katsuta backs Kalle Rovanpera to “come back...
No description available...
1w ago from Motorsport.com
Popular On GunnersToday.com
Man United eye perfect Casemiro replacement with move...
Leon Goretzka has been heavily linked with a move away from Bayern Munich...
4h ago from CaughtOffside.com
Arsenal forward’s availability for Champions League...
Arsenal star Noni Madueke's availability is in doubt for the UEFA...
6h ago from SportsKeeda.com
“It made absolutely no sense” - Tuchel makes...
England manager Thomas Tuchel has revealed that Arsenal duo Declan Rice...
7h ago from SportsKeeda.com
'I'm very grateful to them' – Cristhian Mosquera...
Arsenal man Cristhian Mosquera has revealed that he has received guidance...
7h ago from SportsKeeda.com
Comments
Hottest News
Honda reveal stunning new Aston Martin detail which changes...
A revelation from Honda's president made during... Read More »
3h ago from GPFans.com
Christian Horner still focused on F1 after 'start/finish'...
Insights into Christian Horner's private life are... Read More »
38m ago from GPFans.com
'Things happened which even I cannot comprehend': Toto...
Toto Wolff has delivered a tell all interview... Read More »
2h ago from GPFans.com
