Bolt Blames UK Tax Laws For GP No-show

Usain Bolt has revealed that he will not compete at next month’s Aviva London Grand Prix because of Britain’s stringent tax laws.

Athletes competing in the UK are liable for a 50% tax rate on their appearance fee as well as a sum of their worldwide earnings meaning Bolt could actually lose money if he competed in the Crystal Palace event.

HMRC bases its tax charge on the number of UK events athletes compete in – meaning that if an athlete was to take part in 10 worldwide events and one in the UK then the sum of tax would be one-tenth of their earnings.

It is feared that strict tax laws have proved a downfall to the UK’s hopes of major sporting events.

However, the Government has agreed to waive the rule so London can host the 2011 Champions League final, and competitors in the 2012 Olympics are also excused from the rule.

But Bolt’s decision could see the Jamaican not compete in the UK until the 2012 Olympics.