LONDON – PA informs that Chancellor George Osborne announced in Wednesday's Budget an income tax exemption for overseas athletes competing in the Sainsbury's Anniversary Games.
That could clear the way for the possible participation of Jamaican sprinting star Usain Bolt at the meet.
The world's fastest man competed in the first Anniversary Games in 2013 and in last summer's Commonwealth Games when similar tax breaks were offered. He declined an invitation to compete last year when no tax break scheme was in place.
Bolt, 29, did not compete in the UK in 2010 or 2011 as non-resident athletes are liable for 50 per cent tax on their appearance fee, plus a proportion of their worldwide earnings.