UK tax stance on overseas sports stars "absurd": Olswang
Head of tax disputes at law firm Olswang brands foreign sportspeople being taxed more than they earn while competing in the UK as an "absurd" situation
A top tax lawyer has labelled the UK’s stance on foreign sports stars as ”
absurd”, in the wake of sprinter Usain Bolt snubbing an invitation to race at a
big money event at Crystal Palace.
Hartley Foster. head of tax disputes at law firm Olswang, wrote a letter to
FT citing the 100m star’s decision not to race as a clear sign that HM
Revenue & Customs’ stance needed to reviewed.
Under the present rules Bolt would have to pay more in tax than he would have
received for winning the race. This is because the taxman would have treated his
overseas winnings as liable to UK tax.
“That is clearly absurd,” said Foster.