BIM50660 - Athletes: Lottery Sports Fund Athlete Personal Awards: Loss of earnings support
Exceptionally, payments may be made by sports governing bodies for loss of earning support for example during a sports person’s absence from an employment to train for and participate in the Olympic Games. These payments will not be taxable in the hands of sports persons who are employed. But if the payments are to compensate loss of income from a trade, profession or vocation of any description of a self-employed sports person, they are taxable trading receipts.