Clause 68
Finance (No.2) Bill
11:45 am
John Healey (Financial Secretary, HM Treasury; Wentworth, Labour)
I can broadly confirm the supposition that the hon. Member for South-East Cornwall (Mr. Breed) makes. The current tax system for non-UK resident performers includes income earned in the UK from a range of activities. In the case of a sports star, for example, it may include the winnings in a tournament and media earnings from associated appearances. The provision is designed for the specific purpose of making a special time-limited exemption on such earnings for individual competitors, performers and support staff directly related to the delivery of the Olympics. That is the basis of the proposal, and I stress its time-limited nature.