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Osborne serious about NFL team for London

Chancellor George Osborne is considering offering tax breaks for a potential new London-based NFL team, vowing that the Government will do whatever it takes to attract a franchise.

Osborne has been in discussions with officials from the league over a team potentially being based at Wembley.

The differences in income tax between the two countries has been an issue in coming to an agreement. However, the suggestion that the Treasury will offer an exemption could pave the way, as was the case with the Olympics in 2012.

The move affects both sponsorship deals and salaries of NFL players.

Osborne said:

“This is primarily a decision for the owners of the clubs and the BFL organisation, but I’ve said to the NFL that anything the Government can do to make this happen we will do, because I think it will be a huge boost to London.”

Osborne went on to say that the move would do wonders for London’s sporting prowess as well its standing in culture, business and finance on an international scale.

The NFL, speaking to City AM, said that it is always looking for ways to increase its fan base and that a London team is a viable option.

Most firms aren’t lucky enough to be granted tax exemption and need to be aware of the latest rules and regulations with regards to how much tax they are liable to pay. An accountant in the Wirral, in particular, is more than adept at ensuring that businesses are playing by the rules; it would be sound practice for enterprises to make good use of one.

Posted by Peter
October 31, 2014
HMRC

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