David Jetuah, Accountancy Age, Monday 12 July 2010 at 09:40:00

Olympic 100m champion Usain Bolt may not run in the UK because of HM Revenue& Customs' demands on his pay packet

Usain Bolt, the 100m world record holder may not race in Britain because ofthe taxman tough stance on foreign sports stars.

Bolt is set to pull out of an event at Crystal Palace next month because HMRevenue & Customs will demand a cut of winnings from every other race hecompetes in afterwards,theDaily Mail reported.

His taxable earnings would also include his lucrative endorsement contracts.

The taxman is allowing an exemption for next year's football Champions'League Final, but does not extend the same olive branch to individual athletesafter a 2006 court win against tennis star Andre Agassi.

Further reading:

Taxingsport: an own goal

Celebritiesvs the taxman - who's the winner?