Osborne offers tax break to lure Bolt to London
Olympic champion Usain Bolt and other overseas athletes will be able to compete tax-free in this year's London Diamond League event at the Olympic Stadium after George Osborne agreed to a "one-off" exemption.
Jamaican Bolt, who won three golds at last year's London Games, had not previously raced in the United Kingdom since 2009 because of tax rules which would have left him out of pocket.
British tax rules mean that visiting overseas athletes would have paid tax on their earnings from the meeting but also on part of their global income including sponsorship deals.
In the meantime, I am sure HMRC will be stepping up their efforts to ensure those pesky waiters/waitresses declare their tips, not to mention anybody who chooses to pay a tradesperson in cash.
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