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 »
8mo ago from PlanetF1.com 0
Share

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...
8mo 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...
8mo ago from GrandPrix247.com

Montezemolo calls urgent meeting over F1's future

Ferrari president Luca di Montezemolo has called for an urgent meeting to...
8mo ago from TheF1Times.com

Wolff backs 'fighter' Lewis

Mercedes team chief Toto Wolff has backed 'fighter' Lewis Hamilton to hit...
8mo ago from SkySports.com

Elsewhere On The Network

Popular On MotoGPToday.com

Suzuki reveals title sponsor and 2015 colours

Suzuki joined the rest of the MotoGP grid by formally revealing their...

Aprilia unveils RSGP MotoGP race bike

APRILIA'S RS-GP 2015 MotoGP race bike has been officially unveiled by...
10h ago from VisorDown.com

Suzuki presents 2015 MotoGP racer

Suzuki officially launched its 2015 MotoGP comeback with a presentation...
14h ago from Crash.net

Aprilia may debut 2016 MotoGP electronics this year

Aprilia’s racing boss Romano Albesiano has said the factory MotoGP team...
8h ago from BikeSportNews.com

Popular On IndyCarToday.com

IndyCar 2018 by iRacing's David Phillips

Page 1 of 2 "If talking about the future, our competitors are the...
4h ago from Racer.com

IndyCar and USA Today form marketing partnership

IndyCar and the USA TODAY Sports Media Group announced today that they...
4h ago from Racer.com

IndyCar: Primary sponsor for Hinchcliffe's SPM entry...

Schmidt Peterson Motorsports has announced that Denver-based technology...
1d ago from Racer.com

IndyCar: Teams take delivery of aero kits ahead of...

Teams aligned with either Chevrolet or Honda have taken delivery of the...
2d ago from Racer.com

Popular On TotalWRC.com

Tanak okay after crashing into a lake on Rally Mexico

M-Sport's Ott Tanak and co-driver Ragio Molder are both okay after...
2h ago from Crash.net

SS4: Ogier leads amid Mexico drama

SS4: Ogier leadsamid Mexico drama Sébastien Ogier overcame the handicap...
2h ago from WRC.com

Andreas Mikkelsen calls starting order rules 'stupid'

Talking with Motorsport.com, the Norwegian believes that the starting...
2h ago from Motorsport.com

Ogier leads after crash-strewn morning in Mexico

Big crash for Ott Tanak halts stage, as Kris Meeke, Hayden Paddon and...
2h ago from Motorsport.com

Popular On GunnersToday.com

'I had unfinished business at Arsenal'

To celebrate Mathieu Flamini’s 31st birthday, we pulled a classic...
2h ago from Arsenal.com

'I never wanted to leave Arsenal'

By Steve Stammers To some, wearing the captain’s armband is...
2h ago from Arsenal.com

Man Utd v Arsenal preview

A place at Wembley awaits the winner as Manchester United host Arsenal in...
3h ago from SkySports.com

Burnley v Arsenal - Tickets

 *Arsenal to continue subsidising travelling fans* ...
6h ago from Arsenal.com

Comments

comments powered by Disqus

Hottest News

Recent News

2014 GPToday.com
GPToday.com is not responsible for the news headlines and associated descriptions and images it indexes, the content of externally linked sites or the comments & postings of its users.

This website is unofficial and is not associated in any way with the Formula One group of companies. F1, FORMULA ONE, FORMULA 1, FIA FORMULA ONE WORLD CHAMPIONSHIP, GRAND PRIX and related marks are trade marks of Formula One Licensing B.V.