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Financial Fitness

How different forms of income are taxed for athletes

How different forms of income are taxed for athletes. Professional athletes in the UK generate income from various sources, which may all be taxed in different ways. Income might come from: Winning Income Sponsorship Income Image rights Endorsements Signing bonuses Career income Taxation of income for athletes It is essential to understand the taxation of income for athletes and payment…
David Gregory
July 5, 2023
Financial Fitness

Difference between Playing and Commercial Income in football

Understanding the Difference Between Playing and Commercial Income in Football. This article aims to provide a comprehensive understanding of the difference between playing and commercial income in UK football, with a focus on image rights. It explores the legal structures, tax considerations, and the potential benefits of setting up image rights companies (IRCs) for footballers. In the realm of professional…
David Gregory
June 19, 2023
Financial Fitness

Financial Planning for Professional Sports Athletes: A Comprehensive Guide

Financial planning plays a crucial role in the lives of professional sports athletes, particularly those between the ages of 16 to 30. As they navigate their careers, athletes must ensure their wealth is effectively managed, considering various factors such as investment strategies, sponsorship income, retirement planning, tax planning, endorsements, and the use of limited companies to house image rights and…
David Gregory
June 7, 2023
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