News Details
McLaren lose spy fine tax battle
McLaren's spygate fine from back in 2007 is not tax deductible, according to Britain's Revenue and Customs.
The Woking team was fined $100 million in 2007 when they were found guilty of illegally being in possession of secret Ferrari data.
The fine was reduced by almost half with McLaren seeking for that to be exempt from Corporation Tax. The team stated that it was "connected" to the business trade.
However, Reuters reports that on Wednesday HMRC ruled that the "illicit gathering" of information was not a part of the team's trading activities.
"We're very pleased the Upper Tribunal agrees that the fine should not be given tax relief, which supports our view that...
Full Story »
Full Story »
11y ago from PlanetF1.com
0
You May Also Be Interested In...
Tribunal turns down McLaren spy-gate fine tax rebate
No luck in court for McLaren
McLaren have lost a claim that a record £32...
11y ago from GrandPrix247.com
Rosberg says psychology playing a role in F1 battle
Nico Rosberg in Canada
In Canada Mercedes suffered the first hiccup in an...
11y ago from GrandPrix247.com
Montezemolo calls urgent meeting over F1's future
Ferrari president Luca di Montezemolo has called for an urgent meeting to...
11y ago from TheF1Times.com
Wolff backs 'fighter' Lewis
Mercedes team chief Toto Wolff has backed 'fighter' Lewis Hamilton to hit...
11y ago from SkySports.com
Elsewhere On The Network
Popular On MGPToday.com
Why Ducati stronghold Jerez presents Aprilia’s...
No description available...
4h ago from Motorsport.com
MotoGP star Pedro Acosta wants to keep racing beyond 35
No description available...
7h ago from Motorsport.com
Giacomo Agostini backs 2027 MotoGP rules: “Wings...
No description available...
1d ago from Motorsport.com
Nicolo Bulega: If no 2027 MotoGP move arrives, it's...
Nicolo Bulega believes that not securing a 2027 MotoGP ride wouldn’t be...
1d ago from MotorsportWeek.c...
Popular On IndyCarToday.com
IndyCar names officiating director ahead of Indy 500
IndyCar Officiating has announced Scot Elkins as the new Managing...
1h ago from MotorsportWeek.c...
IndyCar Officiating confirms Scot Elkins as Managing...
No description available...
2h ago from Motorsport.com
Winners and losers from the IndyCar Grand Prix of Long...
No description available...
13m ago from Motorsport.com
Long Beach win “probably ranks top three” for Alex...
No description available...
18h ago from Motorsport.com
Popular On TotalWRC.com
Why Dani Sordo is excited for his WRC topflight return
No description available...
1d ago from Motorsport.com
Ott Tanak lands 2027 WRC car testing role with Toyota
No description available...
4d ago from Motorsport.com
Thierry Neuville wants to "make everyone proud...
No description available...
4d ago from Motorsport.com
The Rally1 rookie proving he belongs in the WRC top...
No description available...
6d ago from Motorsport.com
Popular On GunnersToday.com
£80m target emerges as Chelsea seek upgrade after...
Chelsea are hoping to sign the Newcastle United attacker Anthony Gordon at...
33m ago from CaughtOffside.com
Guardiola: I loved seeing Rice say the title race is...
Man City boss Pep Guardiola says he "loves" Declan Rice's claim...
1h ago from SkySports.com
“If Arsenal don’t win anything, they have got that...
Former Chelsea midfielder has shared his thoughts on Arsenal striker...
4h ago from SportsKeeda.com
David Squires on … Manchester City, Arsenal and an...
No description available...
7h ago from TheGuardian.com
Comments
Hottest News
F1 star involved as sex escort scandal uncovered
A major investigation has linked an F1 driver... Read More »
2h ago from GPFans.com
Aston Martin lifeline emerges as Honda engine backed for...
Honda could be set to receive a significant... Read More »
1h ago from GPFans.com
FIA Safety Car driver observes F1 champions in rear mirror:...
In an exclusive interview with RacingNews365, FIA... Read More »
1h ago from RacingNews365.com
