Wednesday, January 12, 2011 | Posted by: Francesca Lagerberg
Categories: Personal | Tags: tax, HMRC, sports, 2012 Olympics, sports stars, Andre Agassi, Usain Bolt, sports personalities, 2011 Champions League, high rate earners 50%
HM Revenue & Customs (HMRC) has one of the most aggressive approaches to the taxation of overseas sports stars in the world. It can even lead to situations where competitors face suffering a UK tax liability in excess of what they could earn in appearance fees or prize money from the tournament. Therefore more and more sports stars are avoiding the UK for tax purposes, denying British fans from seeing their sporting heroes in person.