Take home pay

[berealman]

hi, sorry I'm sure this question has been asked a number of times
But how much would a boxer take home from a 50k purse? Thanks

[The Law]

hi, sorry I'm sure this question has been asked a number of times
But how much would a boxer take home from a 50k purse? Thanks

Depends on his contract/deal with his promoter/manager. It will vary from fighter to fighter. Also he will be taxed as a higher rate tax payer.

[My T Sharp]

hi, sorry I'm sure this question has been asked a number of times
But how much would a boxer take home from a 50k purse? Thanks

Depends on his contract/deal with his promoter/manager. It will vary from fighter to fighter. Also he will be taxed as a higher rate tax payer.

Yes depends on expenses and amounts paid to promoter/manager/trainer etc.

However unlikely to pay tax at 40% if the tax planning is done correctly

[berealman]

thanks. What's the normal % for promoter, manager, trainer?

[My T Sharp]

thanks. What's the normal % for promoter, manager, trainer?

Don't know...but would guess about 15%-25% manager, 10% trainer.

Promoter earns from the show revenue but I think the promotor can be manager as well.

http://forum.boxrec.com/viewtopic.php?f=9&t=88665

[DG.]

hi, sorry I'm sure this question has been asked a number of times
But how much would a boxer take home from a 50k purse? Thanks

About £25k

[The Law]

hi, sorry I'm sure this question has been asked a number of times
But how much would a boxer take home from a 50k purse? Thanks

Depends on his contract/deal with his promoter/manager. It will vary from fighter to fighter. Also he will be taxed as a higher rate tax payer.

Yes depends on expenses and amounts paid to promoter/manager/trainer etc.

However unlikely to pay tax at 40% if the tax planning is done correctly

Hard to avoid 40% tax if he fights more than once in the year with that kind of pay packet per fight.

[My T Sharp]

Hard to avoid 40% tax if he fights more than once in the year with that kind of pay packet per fight.

True...I don't know how boxers structure their affairs but if they put their earnings through a Limited Company they could take their earnings as dividends at a lower rate and over a number of tax years to suit.

Also consider pension contributions etc, but probably not worth it since they scrapped the early retirement age for sportsmen.

EDIT- shouldn't really be working this late but...£50k profit put through a limited company instead of as a sole trader will result in a tax saving of £3,416.36 if paid as a mixture of salary and dividend.

DisclaimerAll information at your own risk