Jamaican sprinting “legend” Usain Bolt refuses to run in United Kingdom, unless tax laws are changed.
UK Telegraph: “The sprinter, who won gold medals in the 100m, 200m and 4x100m relay at the Games in London, objects to a law that sees him taxed on global sponsorship and endorsement earnings as well as any appearance fee – levied at the 50pc higher earning rate – when he competes in Britain.
And despite setting a new world record during the Olympics, the 25 year-old, who earns an estimated $20m (£12.7m) a year, says his UK-based fans won’t see him compete until the tax laws are loosened.
“As soon as the law changes I’ll be here all the time,” Bolt said. “I love being here, I have so many Jamaican fans here and it’s wonderful.”
Glyn Bunting, a partner at Deloitte, told Radio 4 that HMRC would not only want a slice of Bolt’s winnings in the UK but also his £12.5m sponsorship deal with Puma.
“Usain Bolt will be paid a considerable amount of money to wear a particular brand of clothing or a particular type of racing shoe and HMRC wants its share of that income,” Mr Bunting said.”