The new 50p tax rate may deter sporting stars from taking in part in British
events, a senior tax accountant has warned.
Daily Mail reports that smaller British sporting events may become a victim
of the high tax rate as sportsman try and avoid the high tax rate.
“We could see an exodus of certain events from the UK,” tax consultant Pete
Hackleton from RSM Tenon told the newspaper.
“At the moment sportsmen are taxed on UK prize money and on a proportion of
their endorsement income. Once the income tax rate hits 50p they will be even
more averse to coming to the UK.”
Read the full story:
tax increase could hit UK sporting events
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states