Talking Sport: Is sport becomes too taxing in England?

Parliament has come under much scrutiny of late after world and Olympic three-time gold medalist Usain Bolt topped the list of sporting superstars who said they didn’t want to ply their trade in England.

Although nothing concrete has been established about exactly how much Bolt would be deducted, it is widely believed that he would have to stump up to a sixth of his global earnings to the taxman, so various sources are suggesting.

The Jamaican 100m sprinter has reiterated his desire to one day race in the UK, but has made it clear he wouldn’t benefit from doing so in this financial climate.

“Usain is possibly the first athlete to have endorsements at the level where he stands, but he would see his fees greatly diminish after taxes,” says Ricky Simms, Bolt’s agent.

Formula One sensation Lewis Hamilton has also in the past been reported to have gone into tax exile after it emerged the very same rules Bolt is facing may well have forced Hamilton out of his native England.

Hamilton, currently the youngest ever Formula One champion, is said to have gone to Switzerland after it emerged he could lose millions over his career to the taxman.

The Daily Mail has recently reported that high-earners in football could now be deducted a staggering 50% of earnings, which include salaries, endorsements and bonuses.

No wonder the English game is losing so many stars to foreign clubs after whispers from Spain suggest that players are taxed less than half of what they here in England.

It’s every young lad’s dream to play football, and maybe one day play in the English Premier League, but no longer can we be naive: it’s a job.

Footballers have a shelf-life of 20 years, with many calling time on their careers at the wholesome age of around 36. Because of this, they have to make the big money in ensuring they can put food on their families’ tables for the future and present, while also ensuring they grow old in a good-quality and standard of living.

And if the taxman is already taking up to 50% - and rising – of their hard-earned money, wearing the shirt and playing at Old Trafford just won’t do it anymore.

We have all felt sick after opening the papers to see footballers being paid these obscene salaries or spending what we’d earn in two years in a night, and it of course it can leave us disillusioned with football.

But the truth is these players must spend this money if they are going to live and play in England, or else the taxman will have them for breakfast. The fans are the ones who are ultimately suffering, watching their idols leave for another club abroad, whilst English football hits a new all-time low.

by JACK PRESTON

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