Usain Bolt

Usain Bolt

Usain Bolt won't run in the UK because of our high tax rates....Sergio Garcia only plays in The Open in this country for the very same reason & Wenger's always moaning he can't attract the very best because of the tax hike. Should we relax the taxes so the Great British public can watch the finest live or sod them & still screw the overpaid drama queens for every single penny.
 

Usain Bolt

With respect, this is utter nonsense. If Usain Bolt or Sergio Garcia are not domiciled in the UK, then the income tax rate here is of little relevance; as for Wenger, the top income tax rates here are not much different to those in Western continental Europe, apart from Monaco. The cost of living is considerably higher here, though, particularly London but that is not down to tax. Does Lewis Hamilton refuse to race here because of tax?
 

Usain Bolt

jlove said:
With respect, this is utter nonsense. If Usain Bolt or Sergio Garcia are not domiciled in the UK, then the income tax rate here is of little relevance; as for Wenger, the top income tax rates here are not much different to those in Western continental Europe, apart from Monaco. The cost of living is considerably higher here, though, particularly London but that is not down to tax. Does Lewis Hamilton refuse to race here because of tax?
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I suggest you read the Andre Agassi case. It is true that sportsman from abroad do pay tax in the UK on a proportion of their worldwide income so the UK tax system is relevant particularly if the rate here is higher than that in their home country.
 

Usain Bolt

I'm not saying they don't pay tax. What I'm saying is that the marginal difference between UK tax and their domestic rate should not be of such a size that it makes a big difference. The only time it will is if they are domiciled in a tax haven, like Monaco, Andorra or the Caymans. In which case, they are deliberately avoiding tax in their national country. Usain Bolt is, of course, a national in a tax haven... but Jamaica is putting up tax rates next year!
 

Usain Bolt

Brian Mason said:
I suggest you read the Andre Agassi case. It is true that sportsman from abroad do pay tax in the UK on a proportion of their worldwide income so the UK tax system is relevant particularly if the rate here is higher than that in their home country.
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jlove said:
I'm not saying they don't pay tax. What I'm saying is that the marginal difference between UK tax and their domestic rate should not be of such a size that it makes a big difference. The only time it will is if they are domiciled in a tax haven, like Monaco, Andorra or the Caymans. In which case, they are deliberately avoiding tax in their national country. Usain Bolt is, of course, a national in a tax haven... but Jamaica is putting up tax rates next year!
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.........................you really do need to read up on the Agassi case, as it is not just a question of 'marginal' tax rates at all, but 'worldwide income', including, I'd guess, company sponsorships....................
 

Usain Bolt

Phew... he's taxed on that proportion of his 'worldwide income' attributable to his UK appearance. So, a F1 driver appears in 19 races and therefore his earnings from the UK race plus directly attributable earnings, like company sponsorships, are pro-rata'ed at 1/19th. A good manager and accountant would minimise that 'directly attributable' sum by attributing a proportion to non-F1 events outside the UK. The IRS, in the USA, do a very similar thing.

Going back to the original point - it is not the tax rate that is their issue, it is the fact that they get taxed at all. If we can all have a good moan about Lord Ashcroft, then we should be grateful that HMRC catch up with 'world tour' earners.
 

Usain Bolt

malvernbee said:
Usain Bolt won't run in the UK because of our high tax rates....Sergio Garcia only plays in The Open in this country for the very same reason & Wenger's always moaning he can't attract the very best because of the tax hike. Should we relax the taxes so the Great British public can watch the finest live or sod them & still screw the overpaid drama queens for every single penny.
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:sorted:
 

Usain Bolt

Has to hand back one of his gold medals from 2008 Olympics after a team mate retrospectively tested positive for a banned substance.
 

Usain Bolt

hanworthbee said:
Has to hand back one of his gold medals from 2008 Olympics after a team mate retrospectively tested positive for a banned substance.
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I wouldn't give it back, I'd tell them I'd thrown it in the sea..
 
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