News Details
McLaren loses tax battle over $100m fine
McLaren has lost its battle with Her Majesty's Revenue and Customs over a $100 million (£58m) fine awarded by the FIA back in 2007 for its part in the 'spy-gate' saga. The fine was eventually reduced to around half that amount as the ruling stated that any money McLaren would have been awarded that season from the prize money pot should be deducted from the overall fine. McLaren had hoped to claim the fine as tax deductable as it was related to the business trade, but HRMC has won a ruling which states it isn't. "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...
Full Story »
Full Story »
10y ago from TheF1Times.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...
10y ago from GrandPrix247.com
McLaren lose spy fine tax battle
McLaren's spygate fine from back in 2007 is not tax deductible, according...
10y ago from PlanetF1.com
Rosberg says psychology playing a role in F1 battle
Nico Rosberg in Canada
In Canada Mercedes suffered the first hiccup in an...
10y ago from GrandPrix247.com
Beating Vettel says a lot about Ricciardo
While the Mercedes duo tussle for title spoils, a very different battle is...
10y ago from GrandPrix.com
Elsewhere On The Network
Popular On MGPToday.com
Di Giannantonio will try to “annoy” Marquez and...
No description available...
2d ago from Motorsport.com
Honda needs to gain half a second over winter in...
No description available...
19h ago from Motorsport.com
KTM set for MotoGP exit in 2026 amid insolvency...
KTM could be set for an exit from MotoGP and its support classes in 2026...
1d ago from MotorsportWeek.c...
KTM’s MotoGP exit set to take place in 2026 amid...
No description available...
1d ago from Motorsport.com
Popular On IndyCarToday.com
IndyCar's top 5 storylines of the 2024 season
No description available...
14h ago from Motorsport.com
Counting down the top five best IndyCar races of 2024
No description available...
1d ago from Motorsport.com
The spotlight now on IndyCar, Indy NXT as both series...
No description available...
1w ago from Motorsport.com
Sophia Floersch signs with HMD Motorsports for 2025...
No description available...
1w ago from Motorsport.com
Popular On TotalWRC.com
Katsuta expects “bigger challenge” in WRC 2025
No description available...
23h ago from Motorsport.com
The leading contenders for victory at the 2025 Dakar...
No description available...
1d ago from Motorsport.com
The Dacia/Prodrive innovation that is positively...
No description available...
3d ago from Motorsport.com
Popular On GunnersToday.com
Money no issue as Arsenal ready to sign wide-forward...
Arsenal will reportedly have no problem if they decide to spend big this...
58m ago from CaughtOffside.com
Brentford away a challenging start to the new year
Morning all, and happy new year. We begin 2025 with a tricky away trip to...
58m ago from Arseblog.com
Report: Arsenal will be in the market for one of the...
Arsenal will reportedly be one of the numerous top clubs in the market for...
38m ago from CaughtOffside.com
Brentford vs Arsenal preview: Predict the score!
No description available...
1h ago from SkySports.com
Comments
Hottest News
Hamilton dealt Ferrari ORDER as huge problem identified
Lewis Hamilton must master one key skill if he... Read More »
48m ago from GPFans.com
Happy New Years from these Formula 1 teams!
Today marks the beginning of a new year. It also... Read More »
48m ago from GPBlog.com
F1 2025 star reveals plans for RETIREMENT
A current Formula 1 star has revealed his plans... Read More »
1h ago from GPFans.com
