Can we help you?
You wouldn’t expect an accountant to be able to make a hole in one or to score a penalty in a big match, would you? Similarly, we wouldn’t expect you to have the specialist knowledge needed to sort out all the nuances of your accounts and taxes. For sports professionals, sorting out accounts and taxes can be a lengthy and complex process. To make the most of your earnings, you need expert help. Our accountants in the UK and the US provide a complete suite of a services that will ensure that your accounts are in order.
- We currently work with sports professionals in the world of football, rugby, golf, boxing and athletics.
- We look after all aspects of your financial affairs, from tax compliance and general business advice through to tax advice and wealth protection.
- Wherever you’re competing, our accountants in the UK and the US can handle any international tax requirements.
How we can help
Our services are:
Accurate – A hole in one!
Whatever your income and wherever you take part in your sport, we’ll ensure that everything is correctly accounted for. That might mean taking account of elements such as personal appearances, image rights, sponsorships, cross-border tax, social security and VAT. This is all aimed at minimising the tax you pay and making sure you keep the maximum amount possible from your earnings.
Reliable – Always right on target…
We’re there whenever you need us and will manage your finances behind the scenes so that you can focus on your sport. And we’ll continue to use our expertise to through the many different and changing circumstances you face.
Cost effective – A great result.
Whether you have to negotiate a new contract, are about to move to another club, or it’s ‘business as usual’, our advice can reduce your tax burden. We can’t make you rich but we CAN help you to keep as much money as possible from all your hard work. And that’s a winning formula.
Meeting your needs
Here are a few issues you might face and examples of how we can help you:
We’ll help you to maximise your earnings – whether you’re employed or self employed
- We’ll keep an eye on any changes in international legislation to ensure that you receive as much of your earnings and pay as little tax as possible.
- We’ll also help you to manage your image rights and the associated financial implications.
- We’ll clarify whether there are advantages to you being employed or self-employed
We’ll help you to navigate the complexity of UK and international tax laws.
- However short or long your contract, we’ll deal with the UK and foreign tax implications.
- Sports professionals can claim a wide variety of tax-deductible expenses, which could range from those associated with public appearances down to the cost of laundering and maintaining your sports kit. We’ll advise you about what you can claim (and what you can’t).
- With Axia Media, your own dedicated tax accountant will optimise your tax affairs, giving you complete peace of mind.
We’ll help you to avoid the common tax pitfalls facing sports professionals
- We’ll guide you through residency issues, which will affect income tax. UK residents pay income tax in the UK, whether your income is earnt at home or abroad (although you might also have to pay foreign tax which could possibly be offset against any UK tax you pay).
- If you spend nearly all of your time abroad, training and competing, you’ll need to ensure you don’t end up paying tax twice, in different countries – but don’t worry, we’ll sort out the best solution for you.
- When you show your gross income, don’t deduct your agent’s commission and VAT.
Next steps
To find out more about how Axia could help your business, call Andy Pollard (Senior Partner) in the UK on: 0203 972 0155, or our US office on +1 424 228 9700.
To schedule a call or email a question please click here.