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Media and sports stars’ tax obligations

29 April 2024 / Mohammad Uz-Zaman
Issue: 4934 / Categories: Comment & Analysis , image rights , sport , tax advice , Income Tax , VAT
Fame and fortune

Key points

  • Impact of directing to more revenue to the individual’s image.
  • Taxation of free samples sent to influencers.
  • Importance of full disclosure of all earnings – cash and in kind.
  • Personal financial discipline must be nurtured.

Billions of pounds are pouring into the sports arena and media industry like never before. For the elite stars of these sectors fame and fortune awaits. One big move for a footballer can make them financially secure for life. Likewise online influencers – often the friendly face of major brands’ products and services – can charge huge fees for endorsements shared by their legions of followers.

Whether they are an elite athlete or an influential media personality the digital era presents an incredible commercial opportunity for the individual their employer and their agents.

The internet has become the biggest disrupter to humankind with its impact on economic political ...

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