I wonder if any of you caught these comments from Nadal following his exit yesterday:-
London could lose ATP finals over tax warns Nadal
London risks losing the showcase end-of-season ATP World Tour Finals because of the high rate of British tax, world number one Rafael Nadal said at the Shanghai Masters on Thursday.
The Spaniard believes the 50 percent tax on players' appearance fees, winnings and a proportion of their worldwide endorsement earnings could see the glamour event featuring the top eight men being staged elsewhere unless the law is changed.
"It is really tough what is happening today in the UK with the tax. There are a lot of things that are really positive. This (tax) thing is probably really negative," he said after losing in the third round to German Florian Mayer.http://nz.sports.yahoo.com/tennis/news/article/-/10464171/london-could-lose-atp-finals-over-tax-warns-nadal/
This may not be the right place to post ( I need to give Mark something to do now and again
This is a crazy situation that could affect all our top sporting fixtures not only tennis - I'm thinking of golf, athletics, football and many more.
'The 50 percent tax on players' appearance fees, winnings and a proportion of their worldwide endorsement earnings could see the glamour event (the ATP World Tour Finals) featuring the top eight men being staged elsewhere unless the law is changed.'
To expect players to come to the U.K. to take part in prestigious sporting events and actually occur a loss if they win is unacceptable - especially as these players will usually be obliged to pay tax on their winnings and endorsements in their countries of domicile. I appreciate that we are in dire straits economically but the monies accrued from this would be a drop in the ocean. We should be encouraging top international sportsmen and women to come to the U.K. not the reverse. The sporting associations have to do something about this or the detrimental effect on U.K. sport could be devastating.