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Tax exemption for Commonwealth Games

Accountancy Age

AN INCOME TAX EXEMPTION will be put in place for international athletes competing in the Glasgow Grand Prix and the Commonwealth Games, this year. Currently, HMRC imposes a levy on visiting athletes’ sponsorship, endorsement earnings and appearnce fees – meaning some pay more in UK tax than they would earn. The levy has had high profile opposers such as fastest man alive Usain Bolt (pictured), who has limited his UK appearances. …

Read more here: Accountancy Age

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