I don’t get it. If Usain Bolt were to compete in Britain, he would also have to pay the British Tax man a proportion of his earnings from OTHER races in OTHER countries?! WTF?!
If that’s the case - then that’s real bad and not a great incentive for up and comming athletes to compete on the grand-prix circuit.
If I were coaching top athletes - they might just end up for-going a lot of the grand-prix stuff - and rely more on sponsorship deals etc.
Somebody with more knowledge on business than myself - can you just check this out for me - and tell me I haven’t missed something?
- Because the world (especially my mental country - otherwise known as the UK, is going nuts lately…)
http://www.thesun.co.uk/sol/homepage/sport/3053008/Usain-eyeing-a-tax-break.html
SunSport revealed two weeks ago that Olympic 100m champion and world-record holder Bolt, 23, was refusing to compete at the London Grand Prix next month because he would be taxed too much.
But, last night, sports minister Hugh Robertson offered his services to the Jamaican.
He said: “If there is a problem with Bolt, I am happy to see if I can help. But three weeks doesn’t give us a whole lot of time to organise a tax concession.”
Bolt, who will run over 100m in Paris on Friday, was expected to line up at Crystal Palace on August 13.
He would have earned around £100,000 but athletes competing in the UK are liable for a 50 per cent tax rate on their appearance fee, as well as a proportion of their total worldwide earnings.
Read more: http://www.thesun.co.uk/sol/homepage/sport/3053008/Usain-eyeing-a-tax-break.html#ixzz12zjNPnt1