thejester wrote:

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Jaggy1876 wrote:

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I've found the prize Money PDF. £30,000 for first round and £9,250 in doubles per pair. So £34625 for playing first rounds is nice work and will help pay for a years travelling on the circuit just about.

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So pleased for Alex and this is a big part of it. For somebody at his level it's a huge financial boost and I couldn't be happier for him. And as ever, you never know what might happen in the MD. He'd be a big underdog against just about anyone but if the favourites won every time sport would be very boring!!

-- Edited by thejester on Thursday 16th of June 2016 06:56:19 AM

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I'm wondering how this prize money is taxed? Is it classed as income and therefore taxed as PAYE for NI and Income Tax? That would be a shame if it is because they wouldn't then be able to deduct expenses. Say £1000 prize money versus £900 travel and accomodation costs should leave £100 to be taxed, rather than the £1000.  In the same way a business would operate.

 

Born2WinTennis wrote:

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thejester wrote:

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Jaggy1876 wrote:

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I've found the prize Money PDF. £30,000 for first round and £9,250 in doubles per pair. So £34625 for playing first rounds is nice work and will help pay for a years travelling on the circuit just about.

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So pleased for Alex and this is a big part of it. For somebody at his level it's a huge financial boost and I couldn't be happier for him. And as ever, you never know what might happen in the MD. He'd be a big underdog against just about anyone but if the favourites won every time sport would be very boring!!

-- Edited by thejester on Thursday 16th of June 2016 06:56:19 AM

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I'm wondering how this prize money is taxed? Is it classed as income and therefore taxed as PAYE for NI and Income Tax? That would be a shame if it is because they wouldn't then be able to deduct expenses. Say £1000 prize money versus £900 travel and accomodation costs should leave £100 to be taxed, rather than the £1000.  In the same way a business would operate.

 

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I'm sure they can deduct allowable expenses, at least for events in the UK. It gets trickier at overseas events where there may be a fixed withholding tax, at which point you get into the vagaries of double taxation treaties between the UK and the country concerned.

Yeah, last year the touchtennis guy periscoped a couple of matches as well, tried to nudge him to do the same again this time!

Coup Droit wrote:

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I think the page has gone down, I get the same if I try and re-log into it. But because I had still had it open in an old tab, here it is:

1 Joshua Milton [1/440]
All England Lawn Tennis Club Ltd
2 James Marsalek Thu 16/06/2016 11:00

3 Neil Pauffley
All England Lawn Tennis Club Ltd
4 Joe Salisbury Thu 16/06/2016 11:00

5 Alastair Gray [WC]
All England Lawn Tennis Club Ltd
6 Jonny O'Mara Thu 16/06/2016 11:00

7 Marcus Willis
All England Lawn Tennis Club Ltd
8 Luke Bambridge [3/517] Thu 16/06/2016 11:00

9 Richard Gabb [2/459]
All England Lawn Tennis Club Ltd
10 Daniel Cox Thu 16/06/2016 13:30

11 Alexis Canter [WC]
All England Lawn Tennis Club Ltd
12 Jay Clarke [WC] Thu 16/06/2016 13:30

13 Ryan Storrie [WC]
All England Lawn Tennis Club Ltd
14 Joshua Sapwell [WC] Thu 16/06/2016 13:30

15 Finn Bass [WC]
All England Lawn Tennis Club Ltd
16 Daniel Smethurst [4/533] Thu 16/06/2016 13:30

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Wins for Milts,  Joe S, Jonny, Marcus W, Dan C, Jay C, Josh Sapwell, Dan Smethurst

Bambo is out of form and Rich has been out injured. Not that much of a suprise, especially given how well Dan C played on Monday.

Prize money is taxable as it is a game of skill, which is the key thing here. Allowances for travel, stringing etc will be fully deductible against income. As a rule, prize money for this sort of thing will be taxed at source so it will be up to the player to claim/reclaim tax depending on how much they've won over the year.

A bit like a subcontractor working on a site in a way.

Hope this answers people's questions.