Mo Farah Applies to Become Tax Exile from the UK:
Listing Oregon as primary residence could save him millions.
http://www.runnersworld.com/newswire/mo-farah-applies-to-become-tax-exile-from-the-uk
Mo Farah Applies to Become Tax Exile from the UK:
Listing Oregon as primary residence could save him millions.
http://www.runnersworld.com/newswire/mo-farah-applies-to-become-tax-exile-from-the-uk
The other runner in the picture is Charlie Grice, who is also English. Clearly, the two are just having a laugh.
NYC Runner_ wrote:
Taxes Avoided wrote:Treated like in American in terms of taxes on his "winnings." Those UK taxes are ugly. So ugly that Mo permanently moved to Oregon. This happen several years ago: the switch of allegiance.
I heard somewhere the UK taxes price money where it is gained, so e.g. if a runner runs the London Marathon and wins 100k, they would have to pay income tax on it in London, and then again in their home country - not sure if that is still true?
A few years ago Usain Bolt refused to race in the UK (except for Olympics) due to the taxes.
the why wrote:
gdeegz wrote:This has got to be trolling, although I can't imagine why. Farah has lived almost his entire life in the UK and seemingly has a ton of UK pride. Why the official OP account would troll like this is beyond me, and is perhaps unprofessional.
Either way, this is crazy.
Farah hasn't lived in the UK for years. He applied for tax asylum years ago. He is a permanent resident of Oregon; something he did to avoid paying UK taxes.
I didn't know the USA was a tax haven lol. You can hardly talk of tax asylum. Like everyone else Farah has to pay taxes in his place of residence which is the USA right now. He can't say oh but I would rather pay taxes in the UK.
NYC Runner_ wrote:
Taxes Avoided wrote:Treated like in American in terms of taxes on his "winnings." Those UK taxes are ugly. So ugly that Mo permanently moved to Oregon. This happen several years ago: the switch of allegiance.
I heard somewhere the UK taxes price money where it is gained, so e.g. if a runner runs the London Marathon and wins 100k, they would have to pay income tax on it in London, and then again in their home country - not sure if that is still true?
That's correct. The UK races withhold tax at source. The tax paid in the UK can then be offset against the athletes tax bill in their home country provided that this country has a 'double taxation treaty' with the UK (which most countries do).
brogan1 wrote:
NYC Runner_ wrote:I heard somewhere the UK taxes price money where it is gained, so e.g. if a runner runs the London Marathon and wins 100k, they would have to pay income tax on it in London, and then again in their home country - not sure if that is still true?
A few years ago Usain Bolt refused to race in the UK (except for Olympics) due to the taxes.
Correct because the UK (unlike any other country in the world) not only tax the income the athlete earns at the competition but also tax a share of the athlete's sponsorship deals. This is why people like Bolt would actually lose money by running in the UK. The tax on his sponsorship deals would be higher than what he earns in the race.
Preferential tax treatment. The only way the US can compete with the world in athletics.
How do LRC grinders feel about that?
troll detector wrote:
I don't know whether it was a NOP troll or what, but let's be clear that Farah has been the number #1 5k guy in the world for the past few years (save 2014) and if he has anyone to fear, it's not Ben True or Ryan Hill.
Thank you haha. He shits on those dudes
All you conservatives out there should be applauding Farah -- looks like he's a tax avoider just like many of you deadbeats and your corporate buddies.
Ok, make sure Mom put a Twinkie in your Star Wars lunch. You have a note pinned to your shirt saying " I am not a weakling, just a Libtard". Now, let's go to school.
http://www.wsj.com/article_email/washingtons-corporate-purge-1453855247-lMyQjAxMTA2NTI5NzQyNDczWj
Ok, make sure Mom put a Twinkie in your Star Wars lunch. You have a note pinned to your shirt saying " I am not a weakling, just a Libtard". Now, let's go to school.
http://www.wsj.com/article_email/washingtons-corporate-purge-1453855247-lMyQjAxMTA2NTI5NzQyNDczWj
Announcement coming soon that he is being deported for trafficking in controlled substances.
What are you talking about? wrote:
brogan1 wrote:A few years ago Usain Bolt refused to race in the UK (except for Olympics) due to the taxes.
Correct because the UK (unlike any other country in the world) not only tax the income the athlete earns at the competition but also tax a share of the athlete's sponsorship deals. This is why people like Bolt would actually lose money by running in the UK. The tax on his sponsorship deals would be higher than what he earns in the race.
Did this changed recently? Bolt has raced in the UK several times.
Farah and Bolt command appearance fees that help them offset the UK tax bite.
if it's a joke, dumb. if it's for real, dumber.
Dumb, only your post. His family will never move back to the UK. They like living in Oregon. How long should an ex-pat keep their paper citizenship?
its called Not Ordinarily Resident and is the standard process for anyone who does not live in the uk for longer than 30 days within a year. if they stay longer than this then they start paying taxes as per the normal.
Of course he would declare this why wouldn't he, he isn't requesting exile, hes doing the normal bloody process
get facts straight before declaring something you fools
TAA wrote:
What are you talking about? wrote:Correct because the UK (unlike any other country in the world) not only tax the income the athlete earns at the competition but also tax a share of the athlete's sponsorship deals. This is why people like Bolt would actually lose money by running in the UK. The tax on his sponsorship deals would be higher than what he earns in the race.
Did this changed recently? Bolt has raced in the UK several times.
No the rule hasn't changed but some of the British athletics events in recent years got tax exemptions from the government which enabled Bolt to run. Many sports federations and event organisers have been lobbying with the government for years to change this rule. For example also a lot of the smaller tennis tournaments are suffering as many of the big stars are staying away due to them having to pay tax on their sponsorship income.
Apperance Fees wrote:
Farah and Bolt command appearance fees that help them offset the UK tax bite.
What?!?! And how exactly do their appearance fees help them offset the UK tax bite????
You cannot be so dense. If the fee paid is 25% more than normal then you Mo' money to pay your taxes.