Professional fines may be tax deductable, tribunal finds – OUT-LAW.com

Posted October 12th, 2012 in corporation tax, fines, news, penalties by sally

“The McLaren racing team is entitled to claim a corporation tax reduction in respect of a £32 million fine levied by the motor racing governing body because the fine was not a criminal penalty imposed by statute, a tribunal has held.”

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OUT-LAW.com, 11th October 2012

Source: www.out-law.com