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.

Comments
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Is it...

George Attazder |
George Attazder's picture

Yep, only way to get them here is to bribe them

Chris Smail |
Chris Smail's picture

Really ?

B Roberts |

This highlights the problem

petersaxton |
petersaxton's picture

No, no, no

George Attazder |
George Attazder's picture

More will follow

dunhamsjd |
dunhamsjd's picture

its all to promote the Olympic legacy

carnmores |
carnmores's picture

But this can't be true...!

frustratedwithhmrc |
frustratedwithhmrc's picture

Changes in behaviour

George Attazder |
George Attazder's picture