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ARTICLE · 22 AUGUST 2012

Tax And The Olympics

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Usain Bolt has said that he would like to appear at athletics meetings more often in the UK but is unable due to the tax cost

United KingdomTax
Andrew Loan
Andrew Loan

Usain Bolt has said that he would like to appear at athletics meetings more often in the UK but is unable due to the tax cost. He was able to compete in the Olympics due to tax exemptions introduced to meet one of the conditions for the award of the 2012 Olympic and Paralympic Games to London.

The UK faces a stark choice here: should the UK grant tax concessions to non-resident sportspeople to attract them to the UK, giving tax benefits to a small group of often wealthy but mobile individuals?  Or should the UK give up on holding world-class sporting events, other than the small number of events that are sufficiently important to draw the leading sporting talent to the UK despite the tax implications?

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