TaxPersonal TaxUsain Bolt in dash from the taxman

Usain Bolt in dash from the taxman

Olympic 100m champion Usain Bolt may not run in the UK because of HM Revenue & Customs' demands on his pay packet

Usain Bolt, the 100m world record holder may not race in Britain because of
the taxman tough stance on foreign sports stars.

Bolt is set to pull out of an event at Crystal Palace next month because HM
Revenue & Customs will demand a cut of winnings from every other race he
competes in afterwards,
the
Daily Mail reported.

His taxable earnings would also include his lucrative endorsement contracts.

The taxman is allowing an exemption for next year’s football Champions’
League Final, but does not extend the same olive branch to individual athletes
after a 2006 court win against tennis star Andre Agassi.

Further reading:

Taxing
sport: an own goal

Celebrities
vs the taxman – who’s the winner?

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