Can I get a tax deduction for cheating?
Posted by Terra Nova [HTML][XML][PERM][FULL] on 11 October 2012, 6:16 pm
Ren ReynoldsYes About £34 million worth. For legal / tax nerds here is the First-Tier Tribunal of the Tax Chamber's Decision: For the rest of you - McLaren is a Formula 1 Motorsport team. It cheated. It obtained confidential information about another team, Ferrari, which McLaren intended to use for its advantage. This was found out and the bodies that run Formula One (The Federation L'Automobile (FIA) and World Motor Sport Council (WMSC) the FIA's General Assembly). Accordingly they decided that McLaren had broken its rules: the International Sporting Code (ISC) which are enshrined contractually in the Concord Agreement between...

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