11 Updates
Britain relaxes tax rules to lure top athletes
Photo Credit: WPA Pool, Getty Images

Britain relaxes tax rules to lure top athletes

Feb 9 2013, 4:16am CST | by

London, Feb 9 (IANS/CMC) Olympic sprint champion Usain Bolt and other overseas athletes will be able to compete tax-free in this year's London Diamond League after the British government agreed to tax exemptions.

London, Feb 9 (IANS/CMC) Olympic sprint champion Usain Bolt and other overseas athletes will be able to compete tax-free in this year's London Diamond League after the British government agreed to...

Filed under: news

YouTube Videos

 
 
 

1 year ago

Britain relaxes tax rules to lure top athletes

Feb 9 2013, 4:16am CST | by

London, Feb 9 (IANS/CMC) Olympic sprint champion Usain Bolt and other overseas athletes will be able to compete tax-free in this year's London Diamond League after the British government agreed to tax exemptions.

London, Feb 9 (IANS/CMC) Olympic sprint champion Usain Bolt and other overseas athletes will be able to compete tax-free in this year's London Diamond League after the British government agreed to tax exemptions.

Bolt, who won three gold medals at the London Olympics, had not raced previously in the United Kingdom since 2009 because of tax rules, reports CMC.

"The government is determined to do everything possible to secure the Olympic legacy and I am delighted to grant this exemption," Finance Minister George Osborne told the Daily Telegraph.

Under British law, non-residents are required to pay a 50 percent tax rate on their appearance fee, and also cough up a quantity of their worldwide endorsement income.

The regulation has forced Bolt, the reigning Olympic 100 and 200 metres champion, to opt out of the London Aviva Grand Prix for the last two years.

"It's like me asking you to come to work today and pay me three times what you're getting," declared Bolt's agent Ricky Simms.

"For anyone who earns over a million dollars a year, it doesn't make sense for them to come to Britain."

Despite Osborne's intervention, Bolt has yet to confirm his attendance at the London Diamond league event.

The games have been switched from its traditional Crystal Palace home to the Olympic Stadium to mark its first anniversary July 27.

--IANS/CMC

sr/mr

IANS

Source: IANS

 
Update
11

3 weeks ago

Welfare figures in tax statements may include prime ministers pension

Nov 4 2014 9:44am CST | Source: the guardian

Experts say Treasurys questionable definition of welfare, including public sector pensions, inflates spending total by 40%The occupational pensions of MPs, ministers and the prime minister could be classified as welfare spending in the tax transparency statements that George Osborne has promised every taxpayer.Her Majestys Revenue and Customs is writing to millions of tax-paying households with detailed figures on how the government spends their income t ...
Source: the guardian   Full article at: the guardian
 

 
Update
10

3 weeks ago

Osbornes tax summary shows benefits bill is biggest drain. Is this fair?

Nov 3 2014 8:25am CST | Source: the guardian

Personalised breakdown of where taxpayers money is going divides critics, with some saying welfare analysis is misleadingOver the next few weeks, the UKs 30 million income tax payers will receive from HMRC an illustrative breakdown of where their tax money goes in an initiative championed by the chancellor, George Osborne.The biggest expenditure, the visual breakdown shows, is spending on welfare, which appears to account for ...
Source: the guardian   Full article at: the guardian
 

 
Update
9

3 weeks ago

Manchester to get directly elected mayor

Nov 3 2014 5:22am CST | Source: the guardian

Chancellor unveils plans for mayor with powers over transport, housing, planning and policing under initiative to create northern powerhouseManchester is to get its own directly elected mayor with powers over transport, housing, planning and policing, under plans unveiled by George Osborne on Monday.Devo Manc is the latest initiative in the chancellors plan to create a northern powerhouse to rival Lond ...
Source: the guardian   Full article at: the guardian
 

 
Update
8

3 weeks ago

How to fight Ukip

Oct 29 2014 11:00pm CDT | Source: Spectator Magazine

In the 2005 general election this magazine supported the Conservatives, with one exception — we urged voters in Medway not to vote for a deeply unimpressive Tory candidate by the name of Mark Reckless. Our then political editor, Peter Oborne, went so far as to write a pamphlet in support of the Labour rival, Bob Marshall Andrews, who had a commendable record of sticking it to Tony Blair. Reckless, by contrast, had nothing to commend him. He lost by just 213 vot ...
Source: Spectator Magazine   Full article at: Spectator Magazine
 

 
Update
7

4 weeks ago

London NFL franchise could raise £100m a year for UK, says report

Oct 29 2014 8:14am CDT | Source: Sport-The Guardian

NFL-backed Deloitte report estimates economic impact Two games at Wembley in 2013 earned London £32m Chancellor George Osborne holds talks over NFL team Atlanta Falcons owner talks up London franchise vision Continue readi ...
Source: Sport-The Guardian   Full article at: Sport-The Guardian
 

 
Update
5

4 weeks ago

NFL upping London games to 5 next season, per report

Oct 26 2014 3:47pm CDT | Source: SBNation

However, the NFL reportedly disputes the British newspaper's report. The NFL is reportedly considering increasing its global presence. Mere hours after the Detroit Lions knocked off the Atlanta Falcons 22-21 before a raucous and overflow crowd at London's Wembley Stadium on Sunday, British newspaper The Daily Mail reported the league will be playing five games in London next season. Though the New York Post's Bart Hubbach lat ...
Source: SBNation   Full article at: SBNation
 

 
Update
4

4 weeks ago

NFL Reportedly Planning Additional Games in London for 2015 Season

Oct 26 2014 9:03am CDT | Source: Bleacher Report

The National Football League's attempts to turn England into an American football hub reportedly will expand again next season, as the number of games in London will move from three to five.  While the NFL has yet to make an official announcement, Alex Miller of the Daily Mail reported Sunday that plans are in the works for a fourth and fifth game. The Atlanta Falcons and Detroit Lions are squaring off this weekend at London's Wembley Stadium, which is playing hos ...
Source: Bleacher Report  Full article at: Bleacher Report
 

 
Update
3

4 weeks ago

People diary: Has James Cracknell finally found a seat in Sussex?

Oct 26 2014 2:05am CDT | Source: telegraph olympics

In our celebrity news round-up, the Olympic rower hopes to stand in a safe Tory seat, George Osborne's slim look gets the thumbs down - and Ukip leade ...
Source: telegraph olympics   Full article at: telegraph olympics
 

 
Update
2

4 weeks ago

Taxpayers money spent on childcare is not wasted its an investment

Oct 24 2014 10:41am CDT | Source: the guardian

Fifteen hours of free childcare a week might not allow mothers to return to work immediately but it lets them know that the state respects and supports their intention to do so in futureThere are more women working now in Britain than ever before: two thirds of us, or 14.4 million. Thats a rise of 368,000 in the last year, and of 771,000 since the start of the decade. Britains female employment rate is now well above the average in major industrialised nations. The Tr ...
Source: the guardian   Full article at: the guardian
 

 
Update
1

4 weeks ago

 

Don't miss ...

 

<a href="/latest_stories/all/all/8" rel="author">Luigi Lugmayr</a>
Luigi is the founding Chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com. Luigi posts regularly on LuigiMe.com about his experience running I4U.

 

blog comments powered by Disqus

Latest stories

Yasmany Tomas Agrees to 6-Year, $68.5M Deal With Arizona Diamondbacks
Yasmany Tomas Agrees to 6-Year, $68.5M Deal With Arizona Diamondbacks
Cuban outfielder Yasmany Tomas agreed to a six-year, $68.5 million deal with the Arizona Diamondbacks on Nov. 26. The contract would make him the highest-paid Cuban defector in MLB history.
 
 
FC Goa beat Kerala Blasters FC to move to third spot in ISL
Margao, Nov 26 (IANS) FC Goa romped to a 3-0 victory over Kerala Blasters FC in Match 41 of the Indian Super League (ISL) at the Jawaharlal Nehru Stadium here Wednesday.
 
 
The Black Friday 2014 Sales You can Shop Today 11/26
The Black Friday 2014 Sales You can Shop Today 11/26
Over 20 Black Friday 2014 sales are already launched. Get the deals early to get your head free for the hard to get Black Friday deals to be released on Thanksgiving Day.
 
 
Fit-again Cottrell ready for Windies' tour of South Africa
Kingston (Jamaica), Nov 26 (IANS/CMC) West Indies fast bowler Sheldon Cottrell said he is ready to continue his international career after a hamstring injury forced him out of action for nearly six weeks.
 
 
 

Latest from the Network

Nigerian opposition criticise government for currency devaluation
Abuja, Nov 27 (IANS) The All Progressives Congress(APC), Nigeria's main opposition party, Wednesday criticised the government for its move to devalue the country's currency naira. ]The party objected that the policy...
Read more on Business Balla
 
Nick Cannon and Mariah Carey to spend Christmas together
Nick Cannon and Mariah Carey will spend Christmas together. The couple, who married in 2008, announced their separation earlier this year, but Nick has confirmed that won't stop him spending the festive season with his...
Read more on Celebrity Balla
 
Yasmany Tomas Agrees to 6-Year, $68.5M Deal With Arizona Diamondbacks
Yasmany Tomas has agreed to a mega-deal with the Arizona Diamondbacks.The Cuban outfielder came to terms with the D-backs on a six-year, $68.5 million contract, per MLB.com's Jesse Sanchez:"Cuban outfielder Yasmany...
Read more on Sport Balla
 
Johnny Depp feels 'like a fugitive'
Johnny Depp lives ''like a fugitive''. The Hollywood icon is among the most photographed people in the world, but insists he craves a more quiet life. Johnny, 51, said: ''I'm f*****g shy man. ''I'm living, in a sense,...
Read more on Celebrity Balla
 
Scott Disick says he hasn't slept with Kourtney Kardashian 'in five years'
Scott Disick has claimed he and Kourtney Kardashian ''haven't slept together in five years''. The 31-year-old reality TV star made the strange statement during a new episode of 'Kourtney And Khloe Take The Hamptons',...
Read more on Celebrity Balla
 
Kendra Wilkinson cries over Hank Baskett's 'severe depression'
Kendra Wilkinson was reduced to tears because of her husband Hank Baskett's ''severe depression''. The 29-year-old beauty, who married Hank in 2009 and has two children with the former American football star - Hank,...
Read more on Celebrity Balla
 
Jolie spotted smoking post fight with Pitt
Sydney, Nov 27 (IANS) Actress Angelina Jolie was spotted smoking a cigarette on a hotel balcony here reportedly after she and her husband Brad Pitt engaged in a heated argument. According to weekly magazine In Touch,...
Read more on Celebrity Balla
 
Kate Moss plans Christmas 'glow'
London, Nov 27 (IANS) Supermodel Kate Moss is planning to spice up her look by adding more colourful metallics and shimmer to her beauty regime to give her skin a festive glow. The 40-year-old has decided to undergo...
Read more on Celebrity Balla
 
Britain deploys military helicopters to aid for Ebola-hit Sierra Leone
London, Nov 27 (IANS) Britain has deployed Royal Navy helicopters to deliver materials to northern Sierra Leone as the part of its ongoing efforts to tackle Ebola, the British Department for International Development (...
Read more on Business Balla
 
Katie Holmes craves 'inspirational' romance
Katie Holmes can't imagine living in a world without romance. The 35-year-old actress - who was married to Hollywood superstar Tom Cruise from 2006 to 2012 - gave an interestingly cryptic answer when she was questioned...
Read more on Celebrity Balla