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Teenage darts sensation Luke Littler will lose nearly half of his £500,000 World Championship prize money to the taxman after his historic victory at Alexandra Palace.
The 17-year-old prodigy became the youngest world darts champion in history after defeating Michael van Gerwen 7-3 in a commanding final performance.
Littler, who entered the tournament as favourite, went one better than his runner-up finish last year to claim the coveted Sid Waddell Trophy and the substantial prize purse.
The Runcorn-born champion’s reaction to the prize money announcement on stage was notably measured, perhaps knowing that a significant portion would soon be destined for HMRC’s coffers.
Luke Littler won £500,000 by lifting the Sid Waddell Trophy
Reuters
According to UK tax regulations, Littler will have to surrender £223,213 to HMRC from his championship winnings.
An additional £12,010 will be deducted for National Insurance contributions, as reported by the Daily Mail.
These deductions mean the teenage champion will lose over £230,000 – nearly half of his Alexandra Palace earnings.
This substantial tax burden comes as Littler’s star continues to rise in professional darts, having already demonstrated remarkable consistency at the highest level.
The significant tax implications haven’t dampened the youngster’s spirits, however, as he continues to build on his meteoric rise in the sport.
Last year, when Littler secured £200,000 as runner-up, HMRC’s official social media account couldn’t resist a playful reminder about his tax obligations.
“Big congrats to Luke on his fantastic run to the final,” the HMRC Press Office posted on X, formerly Twitter. “We can confirm the existence of income tax.”
This year, despite HMRC being set to receive an even larger sum from the champion’s winnings, no such message has appeared on social media.
Luke Littler thrashed Michael van Gerwen in the World Championship final
Reuters
The tax office’s silence comes as marketing experts predict an exceptionally bright future for the teenage champion.
The substantial tax burden appears a small price to pay, with industry insiders suggesting Littler’s career earnings could reach astronomical heights.
Marketing consultant Nigel Currie told The Mirror that Littler’s timing couldn’t be better, with darts experiencing unprecedented growth.
“The TV viewing figures are incredible and the money is pouring into the sport like never before,” said Currie.
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Luke Littler looks set to be the face of darts for years to come
Reuters
The expert predicts Littler could earn a staggering £50m over his career through prize money, endorsements and sponsorships.
“He earned over £1m in prize money last year, and I suspect at least the same in sponsorship money, if not more. That is only going to get bigger,” Currie added.
Potential sponsors who were hesitant last year are now likely to come forward, having seen Littler prove himself.
“He will be the pin-up boy of the sport for many years. The sponsors will be queuing up,” Currie concluded.
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