Formula One pays just £1million corporation tax on £300million profit

[rustyrider]

Whoever wrote the article knows naff all about how F1 is organised either.  To make the point that none of the teams pay any tax is irreverent.  The teams are nothing to do with Mr E's empire and don't pay tax because they don't make a profit.  The Ferrari F1 team is a tax write off for  the parent company for instance.  The same goes for the others.  Whatever income they receive is spent on running the team, they aren't in business to make a profit.

At least they are paying some tax, more than you can say for Starbucks......