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Taxation
This is an area which constantly causes problems for elite athletes due to the fact that the guidance from the tax office (HMRC) is so vague.
In essence, if HMRC view you as being a professional athlete, then all of your sporting income, including your lottery grant, is taxable. If they do not view you as a professional, then your lottery grant remains tax free and other income is taxed as normal.
Because of the confusion surrounding this issue the BAC has been working hard over the past two years (the wheels of government turn slowly!) to tighten the definition of what is a professional athlete. This should finally be resolved by early September, and as soon as we have the confirmation we will put the information up on this page.
Below is a list of accountants that we recommend you use if you need help in completing your tax return, or if you feel you need an accountant to help look after your tax affairs.
Ablestoke
Ablestoke Consulting empower their clients by educating them in all aspects of financial wellbeing; helping them understand their current situation and providing inspiration to plan for the future - All based around the needs and goals of each individual. Age, earnings or financial status are no barrier to clients being empowered, being educated about their financial position or needing to plan.
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Brabners Chaffe Street
We are a North West based law firm renowned nationally and internationally for our expertise in the field of sports advice, which has made us the law firm of choice throughout the UK and abroad.
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Catch Sport
Catch Sport is the online sports sponsorship company that brings ATHLETES and SPONSORS together.
Are you an athlete looking for funding or an organisation looking for an efficient way to maximise your sports marketing budget?
Then Catch Sport is here for you. Using this website and our specially developed software we are able to collect, compare and match ATHLETE PROFILES with SPONSOR'S CRITERIA.
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Critical Eye
Criticaleye, The Network of Leaders, provides senior executives with peer interaction across industry sectors, business functions and geographical locations. The community delivers personalised value through our Associates, member-instigated discussions, one-to-one connections and exclusive events.
We are a unique gateway to strategic thought leadership and executive-generated content, providing our members with the latest insights to extend the breadth of their knowledge and assist them in driving change.
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DGS
At DGS we pride ourselves on being truly independent financial advisers. With offices in London and the Midlands we are never far away.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><?xml:namespace prefix = o />
If you’re interested in re-evaluating your personal and private family investments we can help with some great new ideas and a fresh approach to protecting your money
If you're an investor looking for the right opportunity, we have direct and personal contact with some of the most exciting investment opportunities available today.
The founders have experience of financial services and deal making stretching back decades and it’s this experience that has inspired and shaped the DGS mission; to provide strikingly different and successful advice.
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Elite Sports Properties
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Endgame Group
We act for sporting legends as well as the stars of tomorrow – all of whom value our multi-disciplined capability and have experienced for themselves the benefits of consolidating their business and personal affairs with our team of trusted advisors.
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George Davies Solicitors LLP
We are a law firm based in Manchester specialised in acting for individual sportsmen and women; and their associations. We have acted for such bodies as the Professional Footballers Association for over 40 years.
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GMS
Granite Morgan Smith are a small specialised firm of accountants based in Essex, UK.
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Mission Sports Management
Mission offers a personal and direct approach to athlete management resulting in maximising commercial opportunities leaving the athlete to concentrate on what they are good at.
Assistance to clients on and off the field of play enabling them to attain the highest possible level of success, and to maximise their financial earnings.
A full range of client services is provided including sponsorship, endorsements, appearances, image rights, legal representation, accountancy, travel and financial planning.
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Morrish Solicitors LLP
Athletes know the beauty of competing. It’s not so much about winning as it is about the purity of the moments spent doing your best in the sport you love and have trained so hard for. At Morrish Solicitors, we understand that inspiration. It’s that same drive when we handle our clients’ cases: to do what we’re trained for, to protect the rights, interests and dignity of individuals in England and Wales.
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Nuff Respect
Nuff Respect was formed in 1992 by the Olympic 100m champion Linford Christie OBE. It has since established itself as a leading Sports Personality Management Consultancy and Marketing Agency, which specialises in working very closely with UK and International sportsmen and women, achieving their individual goals and those of their sponsors.
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Nunn McCreesh
Nunn McCreesh are an independent, whole of market financial consultancy.
We help our clients with all aspects of financial planning and wealth management.
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PACE Sports Management
PACE Sports Management is a world leading athlete management company. Clients include triple Olympic Champion and World Record holder Usain Bolt (JAM); Olympic, World and Commonwealth Champion Christine Ohuruogu (GBR); World Champions Jana Rawlinson (AUS), Saif Shaheen (QAT) and Benjamin Limo (KEN); Olympic medallists Philips Idowu (GBR), Micah Kogo (KEN) and Mark Lewis-Francis (GBR) and a host of the top names in T&F, cross country and road running.
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Princecroft Willis
“Although the Finn is a single-handed dinghy, it takes many hands to win a gold medal and without you it would not have been possible” – excerpt from a letter to chartered accountants and business advisers Princecroft Willis from triple gold and silver Olympic medallist Ben Ainslie CBE
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Professional Sports Group
Since it was founded in 1996 by Jamie Cunningham, Professional Sports Group has established itself as a company who delivers our commitment to our clients. With our head office on the outskirts of London and our Middle East office in Abu Dhabi, we are uniquely placed to deliver a world-class service for brands, sportsmen and rights-holders.
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Red Sky Management
Red Sky Management is a unique Sports and Business Management Company. We work with athletes to support them in all their off-field activities and we also work with businesses to help them learn from sport. Some of our athletes only want to focus on their sport and need our help to ensure they can do that. Other athletes wish to begin to prepare for life after sport by exploring opportunities in the business world and as we already work closely with the business community there is an open door ready for them.
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Sport 2 Business
We aim to become the 'go to' talent management company for organisations wishing to engage with and eventually hire talent from within competitive sport
We aim to provide organisations with a new and effective recruitment channel to source talent while also deriving ancilliary benefits in business development, staff training and retention, marketing and corporate social responsibility.
Our mission means we create an ever increasing number of opportunities for existing and retired athletes within the commercial world. Please go to our website to see the latest case studies and opportunities that we are creating for athletes www.sport2business.com
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Spring Law
We are a law firm with expertise in sports, media and marketing.
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Stellar Group
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Tenon media
At Tenon Media we help gifted musicians, actors and entertainment professionals and powerful businesses fulfill their personal and corporate ambitions. That way, we not only help you make the most of your finances, we help you make the most of your life.
Our services are wide-ranging, our advice proactive. Our results are always impressive.
Tenon Media has extensive music, film and entertainment industry experience. We also have the financial accounting and tax planning expertise sought by leading players in the media, entertainment and sporting arenas. We’re not just accounting and tax experts, we’re business specialists and commercial advisers too. We offer the full range of services, some of which you’d expect such as royalty auditing , many you would not, such as full-blown financial management.
The key to our service is the personal relationship you develop with any one of our experts who make up our team of 75 advisers. These are people who think laterally and act decisively. People who help you make the right decisions. The result is an effective, highly personalised accounting and personal financial planning strategy.
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