Tax regime ‘costing UK big sporting events’
Britain’s domestic tax regime is responsible for the country being overlooked for major sporting events, a lobby group has claimed.
The Central Council of Physical Recreation (CCPR) said that there were concerns among governing bodies that because of the UK’s tax regime, high profile sports stars and international sports organisations were overlooking the UK when it comes to participating and organising events.
A statement from the CCPR said it will announce on Wednesday that it has commissioned independent research proving its claims so that it can argue its case with the Treasury.
Chairman of the CCPR, Brigid Simmonds, said: “There is no doubt that we are already losing out on major events because of the heavy handed way in which tax on sport is treated in this country.
“In other countries, the authorities go out of their way to attract the major sporting events – international and European competitions which bring in a great deal of money, local investment and prestige, as well as home advantage. But the taxman here seems to be going out of his way to put people off.
“The Treasury has made an exception for foreign competitors at the London Olympics, because the IOC insisted upon it, but even that does not stretch to UK athletes or the British Olympic Association and the door is firmly closed on other events,” she added.
Ms Simmonds claimed the tax regime could “be the difference between a competitor choosing to play in a UK tournament or playing in a country where he or she is not subject to an over-zealous taxman”.
“There are clear, long proven economic benefits to local communities and to their region of hosting international competitions. Yet we are hearing of athletes who are choosing only to attend major events in the UK because they can attend smaller events elsewhere and still only be subject to tax in the country where they are registered, rather than here too,” the CCPR chairman added.
“Ministers are already talking about a golden decade for sport and we are right to celebrate our successes. But despite all the hype, we have often won the right to host these events despite the tax and regulatory regime, not because of it. If we can remove the disadvantages that event organisers in the UK have to cope with, the next decade could be a lot more golden.”
The UK missed out on hosting the Champions League final in 2010 but Manchester is set to host the Uefa Cup final on May 14th between Rangers and Zenit St Petersburg.
