Secret Scotland

If it's secret, and in Scotland…

More scandal with Tax Break offer to 2014 Commonwealth Games athletes

Money grabWhile you or I get fined automatically if we happen to file a late tax return – and we have just seen a news item about those in the Armed Services who are currently serving abroad and file late still being fined regardless – it seems that the élite ‘Celebrity’ class still lives a life apart from normal people.

Athletes who attend the few days of the 2014 Commonwealth Games in Glasgow, for which we are footing a bill of millions and suffering disruption for, and having our intelligence insulted on a regular basis by being told these games will leave a ‘Lasting Legacy’ (lasting bills more likely), are now to escape income tax.

Not for any good reason, but simply because they might not come if they are made to pay their dues – and we can’t upset celebrities these days, can we?

I might not have mentioned this if the move had been aimed at up-and coming athletes who may not be making a penny (yet), but they made the mistake of naming Usain Bolt in the news about this tax evasion, and I doubt if he is short of a penny or two.

(Even I , who care not one jot about him, know he has a sponsorship deal with Puma, and has already done a lucrative deal for his autobiography, so his pension is in the bank.)

Athletes from outside the UK who compete in the 2014 Commonwealth Games are to be given an income tax exemption.

The Treasury has decided to grant the incentive to encourage top international competitors to attend the Glasgow event.

Chief Secretary Danny Alexander is expected to confirm the move during a visit to the west of Scotland.

A similar measure has been put in place for the London 2012 Olympics.

Any athlete not normally resident in the UK is subject to UK income tax on any payment for performing in the country.

‘Memorable Games’

This can include a proportion of worldwide endorsement income.

The exemption could be particularly valuable to top stars such as sprinter Usain Bolt.

In the draft text of a speech Mr Alexander intends to make during a visit to the Commonwealth Sports Arena and Sir Chris Hoy Velodrome in Glasgow, released to the media, he explained the move.

Mr Alexander said: “With six months tomorrow to go until London 2012, I’m pleased to announce this special exemption for Glasgow 2014 which will prolong the Olympic legacy and help spread the long-term benefits into Scotland.

“Everyone wants to see the best athletes compete at Glasgow 2014 and this exemption will make that more likely.”

via BBC News – Tax break offer to 2014 Commonwealth Games athletes.

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January 26, 2012 - Posted by | Civilian | , , , ,

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