50p tax rate could deter sports events
Sporting events threatened by tax rate
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.”
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tax increase could hit UK sporting events