F1 » F1 pays just £1m in corporation tax

The group that owns and operates F1 motor racing made a profit of £305 million in 2012, but paid the UK government just £1 million in tax according to a prospectus for the forthcoming stock floatation.

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July 24, 2013 9:14 PM

The little guys need these tax wizards so people can buy Rollers or Range Rovers for instance...or build big houses.

See, the wealthy guy hires someone to come up with a nifty tax evasion plan --) that guy has a job. The wealthy guy buys a Range Rover Evoque for his daughter --) guys who bolt RR Evoques together have jobs. Nifty tax man wants a new house --) builders have a job.

See...it works out...it's the way the cookie crumbles...


July 25, 2013 6:46 AM

Agree with JJJ & Texas Roadhouse. Turning tax law into a class-struggle is nonsensical. If any corporation pays the taxes it is legally required to pay, end of story. If there is whining about it, then it is typical run-of-the-mill class whining. All those tax dollars saved do not go to waste, they got o work. The fact that an article was written about this A) has no place in Motorsports discussion, unless you are into the business aspects and B) is a fairly pathetic topic to choose - when there are so many other, more interesting stories happening. Whoever wrote this little piece of fecal matter should be working for the Sun or the Mirror, or some cheesy softcore porn magazine.


July 25, 2013 10:01 AM

@killingtime - all those tax dollars saved absolutely do not go to work. They find there way into the bank accounts of the super rich who generally do not re-invest in people and businesses. The amount of money that is placed on money markets everyday, or invested in gold, etc is in the trillions. This money does nothing other than make more money.

It IS immoral that one part of society, ie the super rich, who are the most able to pay tax, have the means and the wherewithal to hoard their wealth. And if anyone thinks cheating is a code to live by, I feel pity more than contempt!

Yes Yes Yes Leave Me Alone

July 25, 2013 11:59 AM

For anyone defending this attitude to tax - you shoud be ashamed. This is such a clear example of the rich influencing politicians so that they can pay less tax, and keep the money.

Benefit fraud is frowned upon (rightly so...), but is making 100 quid extra a week to feed your kids morally better than 'legally' avoiding millions in tax? I'm not sure.

Clearly the issue is very difficult for governments, but surely something HAS to be done - this stuff is sickening for people who pay their taxes and have to suffer the drawbacks of cuts on the NHS and police.

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