Finance (No. 2) Act 2015

30 London Anniversary Games

(1) A duly accredited competitor who performs an Anniversary Games activity is not liable to income tax in respect of any income arising from the activity if the non-residence condition is met.

(2) The following are Anniversary Games activities—

(a) competing at the Anniversary Games, and

(b) any activity that is performed during the Games period the main purpose of which is to support or promote the Anniversary Games.

(3) The non-residence condition is that—

(a) the accredited competitor is non-UK resident for the tax year 2015-16, or

(b) the accredited competitor is UK resident for the tax year 2015-16 but the year is a split year as respects the competitor and the activity is performed in the overseas part of the year.

(4) Section 966 of ITA 2007 (deductions of sums representing income tax) does not apply to any payment or transfer which gives rise to income benefiting from the exemption under subsection (1).

(5) In this section—

• “Anniversary Games” means the athletics event held at the Olympic Stadium in London on 24 - 26 July 2015;

• “Games period” means the period—

  (a)

  beginning with 22 July 2015, and

  (b)

  ending with 28 July 2015;

• “income” means employment income or profits of a trade, profession or vocation (including profits treated as arising as result of section 13 of ITTOIA 2005).

(6) This section is treated as having come into force on 8 July 2015.