McLaren’s £32m spy fine is tax deductible

McLaren – the British Formula One motor racing team – has successfully argued that a £34m fine it had to pay for cheating is tax deductible. The shock ruling was made by Judge Charles Hellier at the First-tier Tribunal (FTT) and centred on an episode in 2007 when McLaren was ordered by the sport’s ruling body, the Federation Internationale de L’Automobile (FIA) to pay £32m and ‘suffer a reduction in its gross income of some £34m’.

The punishment