WTT’s Tom Wallace Talks Tax in the World of Sport

Professional athletes and sports personalities are subject to specific tax regulations. The taxation of sports professions primarily revolves around various income streams, including salaries, endorsements, appearance fees, bonuses, and prize money.

WTT’s Tom Wallace, director of tax investigations, recently spoke to The Express, offering key insights into taxation of sports professionals.

It is important that sports professionals seek advice from experienced tax experts to optimise their tax position and ensure compliance with HMRC. Proper tax planning can help minimise tax liabilities and avoid potential penalties for non-compliance.