F1 cancelled this year?
Discussion
Is the race team a UK company registered to pay taxes in the UK?
There are thousands upon thousands of companies domiciled all over the world where the benificial owners are not tax resident in the corporate entity's home country.
Can't see a problem with any of the entitled companies (including F1 itself, owned by Liberty) taking advantage of the scheme.
There are thousands upon thousands of companies domiciled all over the world where the benificial owners are not tax resident in the corporate entity's home country.
Can't see a problem with any of the entitled companies (including F1 itself, owned by Liberty) taking advantage of the scheme.
janesmith1950 said:
Is the race team a UK company registered to pay taxes in the UK?
Yes.https://beta.companieshouse.gov.uk/company/0180633...
Piginapoke said:
Drumroll said:
But there are many multi-million pound companies that are furloghing staff. Where do yo draw the line that is the problem.
I agree with this- without govt support that lack of cashflow would end many large companies. My issue with Renault F1 is that its owned by Renault, itself owned by the French Govt- that doesn't seem right You can’t realistically expect the government to add conditions like that and be able to effectively administer them or be able to determine where to draw the line. The only fair and practically implementable way of doing it is the way they have done.
Renault no doubt pay a variety of taxes for their UK operations, their UK employees certainly do. As said above the alternative is that a lot of these companies either go bust or end their UK activities, meaning that there’s a lot of future tax that is no longer going to be paid once this is all said and done.
Renault no doubt pay a variety of taxes for their UK operations, their UK employees certainly do. As said above the alternative is that a lot of these companies either go bust or end their UK activities, meaning that there’s a lot of future tax that is no longer going to be paid once this is all said and done.
This season is certainly cancelled, no way that flying 1000s of people around the world for fun is going to be advisable or appropriate.
I do wonder what F1 will look like when all this is done, assuming it survives at all. I guess fewer manufacturers, MUCH smaller team sizes, budgets a fraction of today, simpler engines, all of which would eventually encourage more teams. Sounds ok to me, but we will lose 3 or 4 teams before these decisions are made by necessity.
I do wonder what F1 will look like when all this is done, assuming it survives at all. I guess fewer manufacturers, MUCH smaller team sizes, budgets a fraction of today, simpler engines, all of which would eventually encourage more teams. Sounds ok to me, but we will lose 3 or 4 teams before these decisions are made by necessity.
Piginapoke said:
This season is certainly cancelled, no way that flying 1000s of people around the world for fun is going to be advisable or appropriate.
I do wonder what F1 will look like when all this is done, assuming it survives at all. I guess fewer manufacturers, MUCH smaller team sizes, budgets a fraction of today, simpler engines, all of which would eventually encourage more teams. Sounds ok to me, but we will lose 3 or 4 teams before these decisions are made by necessity.
I would LOVE that to be the outcome. Get rid of the bloated monster that F1 has grown into and maybe return a bit to its roots.I do wonder what F1 will look like when all this is done, assuming it survives at all. I guess fewer manufacturers, MUCH smaller team sizes, budgets a fraction of today, simpler engines, all of which would eventually encourage more teams. Sounds ok to me, but we will lose 3 or 4 teams before these decisions are made by necessity.
Eric Mc said:
Clockwork Cupcake said:
Eric Mc said:
I would LOVE that to be the outcome
We know; you never miss an opportunity to tell us.It seems pretty clear that if what you’re wishing for would be the end of F1. Not ‘as we know it’, quite simply the end.
5 or 6 teams along the lines of Williams wouldn’t be worth bothering with and wouldn’t have a chance of surviving.
Is that really what you wish for? How sad.
Of course I don't want the "end of F1". I would like to see it as a less overbloated monster though.
However, I think that there is a general danger to motor sport anyway as it is being squeezed by all sorts of external pressures. Covid 19 is just the latest and most severe. Emerging from it might be the opportunity F1 could use to re-invent itself.
However, I think that there is a general danger to motor sport anyway as it is being squeezed by all sorts of external pressures. Covid 19 is just the latest and most severe. Emerging from it might be the opportunity F1 could use to re-invent itself.
F1 is an entertainment businesss. Whether anyone likes it or not, if the funding comes from sponsors and the paying public, it's always going to have the commercial element to it.
You could have a small group of privately owned and funded teams battling it out, however they couldn't afford to do it whilst maintaining F1s position as pinnacle of motor racing.
If it isn't the pinnacle, it would be able to attract or afford the best drivers.
If it's a sport featuring not the best cars and not the best drivers, it becomes A N Other Motorsport and fairly unremarkable.
You could have a small group of privately owned and funded teams battling it out, however they couldn't afford to do it whilst maintaining F1s position as pinnacle of motor racing.
If it isn't the pinnacle, it would be able to attract or afford the best drivers.
If it's a sport featuring not the best cars and not the best drivers, it becomes A N Other Motorsport and fairly unremarkable.
Indeed - but who knows what the world will be like when we emerge out of the current situation.
We've not been here before for a long time. The last major interruption to motor sport on this scale was the six year gap (although it wasn't a full six years everywhere) during World War 2.
Formula 1 emerged as "the new thing" after World War 2. It will be interesting to see what changes (and I'm pretty sure there will be changes) that emerge from this hiatus.
We've not been here before for a long time. The last major interruption to motor sport on this scale was the six year gap (although it wasn't a full six years everywhere) during World War 2.
Formula 1 emerged as "the new thing" after World War 2. It will be interesting to see what changes (and I'm pretty sure there will be changes) that emerge from this hiatus.
Eric Mc said:
Of course I don't want the "end of F1". I would like to see it as a less overbloated monster though.
However, I think that there is a general danger to motor sport anyway as it is being squeezed by all sorts of external pressures. Covid 19 is just the latest and most severe. Emerging from it might be the opportunity F1 could use to re-invent itself.
But this is what you said you would LOVE to see:However, I think that there is a general danger to motor sport anyway as it is being squeezed by all sorts of external pressures. Covid 19 is just the latest and most severe. Emerging from it might be the opportunity F1 could use to re-invent itself.
‘MUCH smaller team sizes, budgets a fraction of today, simpler engines....... ..........but we will lose 3 or 4 teams’
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