F1 » McLaren win 'spygate' tax deduction case

McLaren have succeeded in getting their fine for the 2007 'spygate' scandal allowed as a tax deductible cost, potentially saving the team millions in corporation tax.

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Mark _

October 12, 2012 6:59 PM

Wow, that is very different than the tax laws here in the US. Here penalties of any sort are not tax deductible. So I guess that knocks 20 to 25 million off of their fine. I wonder if their lawyers are paid by the hour or if they get a percentage of savings.


October 12, 2012 8:40 PM
Last Edited 1298 days ago

WHAT? How the fk can a fine for breaking sporting laws be tax deductible?

Can the rest of us now claim parking tickets, speeding fines etc as tax deductible?


Mark _

October 12, 2012 9:14 PM

@Taipan - don't forget the overdue fines from the library.

In all seriousness this reeks of the government siding against the sanctioning body much like the government interference in the Lance Armstrong investigation by the U.S. Department of Justice. I guess it helps to have advocates in high places.

Ron - Unregistered

October 12, 2012 10:31 PM

And how were McLaren unpunnished, they were disqualified from the constructors title (which for second would have had a decent pay too right?), there image has been tarnished, and they were damm near lynched by fans and sponsers alike.

Would think the above was worse then the fine

Mark _

October 12, 2012 11:28 PM

@Ron - the payout for the WCT was used to offset some the $100 million penalty. The question then becomes were McLarena able to also get a tax deduction for those lost earnings?

FJ - Unregistered

October 13, 2012 12:18 AM

@ ron

By the same logic could I start a business with the primary operation being betting at casinos. I could then claim any losses as a cost of doing business?

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