Luke Littler faces dropping nearly half of his Ally Pally winnings following his unbelievable run to the ultimate.
The 16-year-old darts prodigy could have fallen quick in opposition to Luke Humphries on the Paddy Power PDC World Darts Championship, however the teenager’s efficiency has been the story of the 2024 event. While world primary Humphries picked up the highest prize of £500,000, Littler may console himself with a cool £200,000.
He’s already promised to deal with his mates to a day trip at Alton Towers whereas the odd kebab can be bought too. However, Littler received’t get to maintain the entire 200k for himself.
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Investment platform Saxo has estimated Littler should pay £76,203 in tax, in addition to £7,330 in National Insurance, which suggests his winnings can be lower to £117,000.
Andrew Mangion, Head of Tax Product at Saxo, stated: “Everybody needs to pay tax, no matter their age, and under 18s have the same personal allowance as adults. Normally children don’t work or if they do, their pay is generally under the tax free allowance.
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(Image: Getty)
“In this case, it’s rare for a teenager to come into so much money in one lump sum and we would advise him to take professional financial advice on how to best act on this.”
Discussing how he deliberate to spend his winnings earlier within the event, Littler stated: “All my friends are watching at home. We’ve always said we need to go Blackpool or Alton Towers so I think they will be looking at me like, ‘you’re paying, Luke’ and I’ll be like, yeah, okay.”
Littler, who turns 17 this month, stands to earn much more this yr, his first on the PDC Tour. One huge payday could possibly be offered by the Premier League, which affords £1million in prize cash over its 17 weeks. Fans will be taught whether or not Littler has been chosen this afternoon (Thursday).