Tweet
International athletes given double tax exemption for Glasgow events
Chancellor joins efforts to get Usain Bolt to 2014 Commonwealth Games
Usain Bolt won gold in the 100m and 200m at the London 2012 Olympics Photo: REUTERS
6:29PM GMT 14 Feb 2014
George Osborne has joined the campaign to attract Usain Bolt to the Commonwealth Games ny announcing a major tax break for international athletes competing in Glasgow this summer.
The world’s fastest man and triple Olympic champion claimed in 2012 that as soon as the UK tax laws changed he would compete there “all the time”.
The Jamaican sprinter did not appear in the UK in 2010 or 2011 because non-resident athletes are liable for 50 per cent tax on their appearance fee, plus a proportion of their worldwide earnings.
He has not yet confirmed his attendance at the event in Glasgow, but is likely to be encouraged by the UK Government’s announcement that athletes will be exempt from income tax when they compete at a Diamond League event in the city this summer.
The Sainsbury's Glasgow Grand Prix has been moved from London to Scotland’s biggest city and will take place at Hampden Park from July 11-12, two weeks before the Commonwealth Games.
Related Articles
International athletes have already been given tax exemption for the Games, and Mr Osborne said he wanted to do “everything to help make this summer a summer of sporting success in Scotland”.
He added: “Not only is the great city of Glasgow hosting the Commonwealth Games, but also the Glasgow Grand Prix as well and the UK government will do its part to make sure both are great sporting events.
"The tax exemption the Treasury is announcing will extend the cultural and economic contribution that the Games will bring. It will also ensure Scotland continues to attract the highest standard of athletes."
Bolt has already confirmed his attendance at the Paris leg of the Diamond League on July 5 and if he commits to the Glasgow Grand Prix event he’ll earn around pounds200,000 as an appearance fee.
He did not compete at the 2010 Games in Delhi and his coach said recently that he would only make a final decision on Glasgow after the Jamaican championships in June.
Danny Alexander, the Chief Secretary to the Treasury, said the additional tax break would help ensure that the best athletes came to Glasgow this summer.
Lord Smith of Kelvin, chairman of Glasgow 2014, welcomed the Treasury announcement, adding: “This positive contribution from UK Government will play a key role in maximising opportunities to engage the Commonwealth’s elite international athletes in what will be an exciting build-up to the Glasgow 2014 Commonwealth Games, the UK’s next big sporting event.”
The one-off exemption will apply to all non-UK resident accredited competitors in the event. Tax exemption was previously granted to athletes at the 2012 Olympics in London.
Chancellor joins efforts to get Usain Bolt to 2014 Commonwealth Games
Usain Bolt won gold in the 100m and 200m at the London 2012 Olympics Photo: REUTERS6:29PM GMT 14 Feb 2014
George Osborne has joined the campaign to attract Usain Bolt to the Commonwealth Games ny announcing a major tax break for international athletes competing in Glasgow this summer.
The world’s fastest man and triple Olympic champion claimed in 2012 that as soon as the UK tax laws changed he would compete there “all the time”.
The Jamaican sprinter did not appear in the UK in 2010 or 2011 because non-resident athletes are liable for 50 per cent tax on their appearance fee, plus a proportion of their worldwide earnings.
He has not yet confirmed his attendance at the event in Glasgow, but is likely to be encouraged by the UK Government’s announcement that athletes will be exempt from income tax when they compete at a Diamond League event in the city this summer.
The Sainsbury's Glasgow Grand Prix has been moved from London to Scotland’s biggest city and will take place at Hampden Park from July 11-12, two weeks before the Commonwealth Games.
Related Articles
- Hoy launches Glasgow 2014 countdown
23 Jul 2013 - Farah may drop out of Commonwealth Games
15 Oct 2013 - Alex Salmond warned he will be 'booed across Scotland' if he uses Commonwealth Games to score political points
08 Jan 2014
International athletes have already been given tax exemption for the Games, and Mr Osborne said he wanted to do “everything to help make this summer a summer of sporting success in Scotland”.
He added: “Not only is the great city of Glasgow hosting the Commonwealth Games, but also the Glasgow Grand Prix as well and the UK government will do its part to make sure both are great sporting events.
"The tax exemption the Treasury is announcing will extend the cultural and economic contribution that the Games will bring. It will also ensure Scotland continues to attract the highest standard of athletes."
Bolt has already confirmed his attendance at the Paris leg of the Diamond League on July 5 and if he commits to the Glasgow Grand Prix event he’ll earn around pounds200,000 as an appearance fee.
He did not compete at the 2010 Games in Delhi and his coach said recently that he would only make a final decision on Glasgow after the Jamaican championships in June.
Danny Alexander, the Chief Secretary to the Treasury, said the additional tax break would help ensure that the best athletes came to Glasgow this summer.
Lord Smith of Kelvin, chairman of Glasgow 2014, welcomed the Treasury announcement, adding: “This positive contribution from UK Government will play a key role in maximising opportunities to engage the Commonwealth’s elite international athletes in what will be an exciting build-up to the Glasgow 2014 Commonwealth Games, the UK’s next big sporting event.”
The one-off exemption will apply to all non-UK resident accredited competitors in the event. Tax exemption was previously granted to athletes at the 2012 Olympics in London.
Paul Marin -19 is one thing, 20 is a whole other matter. It gets even worse if they win the UCL. *groan*. 
05/18/2011.MU fans naah cough, but all a unuh a vomit?-Lazie 1/11/2015
Comment