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 Outrageous 50% UK tax rate threatens top sports event

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Outrageous 50% UK tax rate threatens top sports event Vide
PostSubject: Outrageous 50% UK tax rate threatens top sports event    Outrageous 50% UK tax rate threatens top sports event Icon_minitimeMon Oct 17, 2011 3:42 am
The Government’s tax rules on the ‘passive income’ of athletes – which means those competing in the UK have to pay tax not only on any earnings in the country, but also an increased proportion of their global endorsement earnings – has been blamed for Nadal’s decision to turn his back on Queen’s Club next summer in favour of the Gerry Weber Open in Halle.

Outrageous 50% UK tax rate threatens top sports event Article-1318539956806-0CA258AC00000578-842442_636x350

And Nadal says the 50 per cent tax could see the World Tour Finals move elsewhere unless the law is changed. ‘It is really tough what is happening today in the UK with the tax,’ said the multi-millionaire, after a third-round 7-6 (7-5), 6-3 defeat to Florian Mayer. ‘London is a fantastic event.

He said: ‘To go and play at Queen’s, the problem is I can lose money. I’m going to play at Wimbledon. I’m going to play in the World Tour Finals. So that is a lot of tax. It is becoming more and more complicated to play in the UK at the moment.’

http://www.metro.co.uk/sport/878554-rafael-nadal-warns-on-uk-tax-rate-after-crashing-out-of-shanghai-masters

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