Hero to Zero (Mo Farah content)?
Discussion
Why is it ungrateful, if he's living in the US he will have to pay taxes there. He moved to train there with his coach, he hasn't moved to a tax haven to avoid paying tax, it is a complete non-story. He's won several gold medals for Britain he's more the repaid his part of the bargain.
The real story should be, should we be funding multi-millionaire athletes, I don't think we should, that money would be better off going towards the next generation of athletes coming up.
The real story should be, should we be funding multi-millionaire athletes, I don't think we should, that money would be better off going towards the next generation of athletes coming up.
Top professional sports stars have lived in tax havens for years. Jersey is popular with golfers. SIR Jackie Stewart spent much of his life in Switzerland. Other great "Brits", many beknighted, have lived abroad to avoid UK taxes in the past (Sean Connery, Michael Caine, David Coulthard etc etc). The list is long.
Mo isn't exactly in a tax haven.
Mo isn't exactly in a tax haven.
Be under no illusions, 'we' or the British Olympic Team or whatever give him money to train / live so we can win medals at major events - it's a strictly business-like deal, as anyone involved in a non-Olympic sport or are at sub-Olympic level will tell you, "no chance of a medal, no money". It's nothing to do with diversity, or whatever.
As I mention above he's not pretending to live in a flat in Monaco to save money on his self-assessment like so many others, he lives in the US. I suspect when he retires he'll return to the UK.
As I mention above he's not pretending to live in a flat in Monaco to save money on his self-assessment like so many others, he lives in the US. I suspect when he retires he'll return to the UK.
I doubt the BBC will be reporting this with much leftie vigour... usual apologies etc
http://www.dailymail.co.uk/news/article-2542576/BB...
http://www.dailymail.co.uk/news/article-2542576/BB...
TDIPLC said:
Considering that he's availed himself of UK tax payers money since the age of 8n and the he's accepted the CBE, perhaps it's a little ungrateful?
Due to HMRC's way of taxing overseas athletes who come to the UK for training/competiton he's likely to be looking at paying a significant amount in tax anyway, just by coming over and doing the London Marathon.Hector said:
Her Majesty’s Revenue and Customs taxes the earnings by overseas athletes from appearance fees and prize money at 50 per cent. It also taxes athletes on a proportion of their global endorsement income.
The number of days a foreign athlete spends training and competing in Britain in a year is divided by the total number of days the athlete trains and competes around the world. HMRC uses the figure to calculate the percentage of global income that is taxable.
It's one of the reasons why some of the big earners don't bother competing in the UK, they couldn't earn enough to cover their tax bill to a country they don't even live in The number of days a foreign athlete spends training and competing in Britain in a year is divided by the total number of days the athlete trains and competes around the world. HMRC uses the figure to calculate the percentage of global income that is taxable.
Eric Mc said:
Mo isn't exactly in a tax haven.
Quite. As US resident he'll be paying US federal and state taxes on his worldwide income AND higher UK taxes on his worldwide income pro-rated for the days he ever 'works' in the UK again. US-UK double tax treaty doesn't credit him for all of his UK tax so he'll likely be paying MORE tax than when he was UK resident; over 60%!!! The deliberate implication of tax dodging is either ignorant or dishonest and in any event I don't understand why this is public, surely ones tax afairs are private?http://www.cbssports.com/golf/eye-on-golf/22859008...
bigandclever said:
Due to HMRC's way of taxing overseas athletes who come to the UK for training/competiton he's likely to be looking at paying a significant amount in tax anyway, just by coming over and doing the London Marathon.
Does that mean we actually made money from hosting the olympics. Hector said:
Her Majesty’s Revenue and Customs taxes the earnings by overseas athletes from appearance fees and prize money at 50 per cent. It also taxes athletes on a proportion of their global endorsement income.
The number of days a foreign athlete spends training and competing in Britain in a year is divided by the total number of days the athlete trains and competes around the world. HMRC uses the figure to calculate the percentage of global income that is taxable.
It's one of the reasons why some of the big earners don't bother competing in the UK, they couldn't earn enough to cover their tax bill to a country they don't even live in The number of days a foreign athlete spends training and competing in Britain in a year is divided by the total number of days the athlete trains and competes around the world. HMRC uses the figure to calculate the percentage of global income that is taxable.
fblm said:
Eric Mc said:
Mo isn't exactly in a tax haven.
Quite. As US resident he'll be paying US federal and state taxes on his worldwide income AND higher UK taxes on his worldwide income pro-rated for the days he ever 'works' in the UK again. US-UK double tax treaty doesn't credit him for all of his UK tax so he'll likely be paying MORE tax than when he was UK resident; over 60%!!! The deliberate implication of tax dodging is either ignorant or dishonest and in any event I don't understand why this is public, surely ones tax afairs are private?http://www.cbssports.com/golf/eye-on-golf/22859008...
He was born in Somalia, but moved to the UK ages 8. Mo currently resides in Teddington, south-west London, and has frequently spoken of his pride at representing Britian in athletic events across the globe.
He once said: "It's where I grew up. I don't know nothing but England."
He'll be kissing the badge on his running top next!
He once said: "It's where I grew up. I don't know nothing but England."
He'll be kissing the badge on his running top next!
Establishing a new country of domicile other than the one in which you were born is actually quite hard. Making statements like "I know nothing but England" is helpful if you want to establish a UK domicile, but on its own it may not be good enough.
Habitually living outside the UK for long periods of time could work in the opposite direction.
Habitually living outside the UK for long periods of time could work in the opposite direction.
HonestIago said:
TDIPLC said:
http://www.ibtimes.co.uk/olympic-hero-mo-farah-app...
Somalian born "British" CBE holder doesn't seem to like paying UK taxes.
What dop you think?
This WILL upset the BBC! Somalian born "British" CBE holder doesn't seem to like paying UK taxes.
What dop you think?
After all he is their poster boy for the resounding success of multiculturalism, diversity and enrichment provided by Muslims from the third world etc etc.
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