Recently, HMRC have turned their attention to the way in which a professional sports person is taxed at both a corporate tax level (where a sports person may operate through a limited company) as well as a personal tax level.
The taxation of sports professionals has become increasingly complex and is an area in which LWA can help.
We act for individuals operating within the sports arena and have experience assisting with the following:
- Personal tax affairs
- Limited company compliance requirements and tax planning
- Tax inquiries from HMRC
- Taxation of testimonials that may be awarded to a professional sports person to ensure testimonial proceeds are treated correctly for tax purposes.