Introduction Details of the Section
2.Subsection (1) provides that accredited competitors in the London Anniversary Games who meet the non-residence condition will be exempt from UK tax on any income arising from Anniversary Games activities.
3.Subsection (2) defines Anniversary Games activities for the purposes of subsection (1) as both competing at the Anniversary Games and performing any activity during the games period where the main purpose is to support or promote the Anniversary Games.
4.Subsection (3) defines the non-residence condition for the purpose of subsection (1). To meet the non-residence condition, an accredited competitor must be non-UK resident for the tax year in which the Anniversary Games activity is performed, or, where that year is a split year as regards the competitor, the Anniversary Games activity must be performed in the overseas part of that split year.
5.Subsection (4) provides that withholding obligations provided by section 966 of the Income Tax Act (ITA) 2007 do not apply to any payment or transfer that gives rise to income which benefits from the exemption provided by subsection (1).
6.Subsection (5) defines the terms “accredited competitor”, “the Anniversary Games”, “the games period” and “income” for the purpose of this section.
7.Subsection (6) provides that this section is treated as having come into force on 6 April 2013.