The lifecycle of an international athlete: Part 3 – Key UK income tax points for non-residents

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Hand placing tax blocks on coins

Hand placing tax blocks on coins

Wednesday, 27 July 2022
By Laura Dadswell

This web site in our sequence for international athletes points out the critical legal factors about taxation that really should be viewed as when coming to contend in the United kingdom. Especially, it addresses the subsequent concerns:

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    Is there precise laws that I should really be knowledgeable of?

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    Do I have to have to shell out United kingdom profits tax?

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    Will a provider corporation aid me to mitigate tax?

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    Do I have to have to file a tax return?

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    Can I minimize my mounted payments?

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    Who is accountable for deducting withholding tax and accounting for it to HMRC?

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    What if I come to be British isles resident?

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    Are there any concessions I can get gain of?

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The United kingdom tax authority (HMRC) struggles with taxing global athletes in a proportionate fashion within the latest tax system. In certain, the British isles will tax not only service fees straight linked to time put in in the United kingdom, but will also look for to tax throughout the world profits (including image legal rights exploitation) on a share foundation with reference to British isles appearances in the tax 12 months in issue. Early negotiation with HMRC to examine the possibility of decreased withholding tax or to search for tax concessions is vital for all those sportspersons considering quick term appearances in the United kingdom. Unique concerns arise for people primarily based in the British isles for the extended phrase.

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Laura Dadswell

Laura Dadswell

Laura, a associate in Penningtons Manches’ non-public customer group, is an global tax and have confidence in professional with specific abilities in doing work with US difficulties and company prosperity structuring. She is rated in Chambers British isles and in The Authorized 500.

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