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 »
9y 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...
9y ago from GrandPrix247.com
McLaren lose spy fine tax battle
McLaren's spygate fine from back in 2007 is not tax deductible, according...
9y 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...
9y ago from GrandPrix247.com
Beating Vettel says a lot about Ricciardo
While the Mercedes duo tussle for title spoils, a very different battle is...
9y ago from GrandPrix.com
Elsewhere On The Network
Popular On MGPToday.com
Ducati: Bastianini's COTA MotoGP podium an...
Ducati General Manager Gigi Dall’Igna labelled Enea Bastianini's podium...
13h ago from MotorsportWeek.c...
How MotoGP brakes work: Secrets of stopping a 220mph...
No description available...
13h ago from Motorsport.com
Quartararo: Marquez's Honda exit "woke a lot of...
No description available...
17h ago from Motorsport.com
COTA: F1 and MotoGP double-header possible but not...
No description available...
16h ago from Motorsport.com
Popular On IndyCarToday.com
Pourchaire to make IndyCar debut in Long Beach with...
Arrow McLaren has announced that the reigning Formula 2 champion Theo...
17h ago from MotorsportWeek.c...
Pourchaire to make IndyCar debut for Arrow McLaren
No description available...
18h ago from Motorsport.com
IndyCar's new Aeroscreen makes early debut at Long...
The NTT IndyCar Series will have teams fit a new version of the Aeroscreen...
2d ago from MotorsportWeek.c...
IndyCar rolling out new version of aeroscreen for Long...
No description available...
2d ago from Motorsport.com
Popular On TotalWRC.com
Sebastian Ogier tops Croatia Rally shakedown
Sébastien Ogier announced his return to FIA World Rally Championship...
11h ago from MotorsportWeek.c...
Hyundai enacts contingency plan after WRC Kenya fuel...
No description available...
13h ago from Motorsport.com
WRC 2025 rules limbo creating “critical” situation...
No description available...
16h ago from Motorsport.com
Ireland’s bid to rejoin the WRC in 2025 halted
No description available...
2d ago from Motorsport.com
Popular On GunnersToday.com
“I can’t stand things like this” - Chris Sutton...
No description available...
1h ago from SportsKeeda.com
Arsenal Transfer News Roundup: Gunners not in talks to...
No description available...
2h ago from SportsKeeda.com
No feeling sorry for ourselves, ‘war chest'...
Morning all. It's gonna be a pretty quick blog today, I think. Between...
1h ago from Arseblog.com
Arsenal step up plans for a new striker with Premier...
Following their elimination from the Champions League by Bayern Munich,...
1h ago from CaughtOffside.com
Comments
Hottest News
2024 F1 Chinese Grand Prix - Free Practice results
Check out the results from Free Practice ahead of... Read More »
2h ago from RacingNews365.com
Tech F1i: A look at the teams’ updates in Shanghai
Formula 1’s return to China after a five-year... Read More »
1h ago from F1i.com
Kravitz and Rosberg know why Alonso is not going to Red...
Ted Kravitz and Nico Rosberg are sure: Fernando... Read More »
3h ago from GPBlog.com