The London Olympic Games and Paralympic Games Tax Regulations, SI 2010/2913, implement tax commitments made by the UK in bidding to host the Olympic and Paralympic Games.
They exempt from income tax the income and profits of specified individuals who come to the UK temporarily to take part in or assist in the hosting of the Games, and prevent the activities of certain of those individuals from creating a permanent establishment of their employer for corporation tax purposes, if one does not already exist.
‘For most people working at or supplying to London 2012, there will be no specific tax exemptions in place, and normal tax laws apply,’ HMRC said.
The London Olympic Games and Paralympic Games Tax Regulations, SI 2010/2913, implement tax commitments made by the UK in bidding to host the Olympic and Paralympic Games.
They exempt from income tax the income and profits of specified individuals who come to the UK temporarily to take part in or assist in the hosting of the Games, and prevent the activities of certain of those individuals from creating a permanent establishment of their employer for corporation tax purposes, if one does not already exist.
‘For most people working at or supplying to London 2012, there will be no specific tax exemptions in place, and normal tax laws apply,’ HMRC said.
