Sports and Entertainment

Bespoke corporate solutions designed to meet the varied requirements of the international sportsperson, entertainer or touring artist.

We offer bespoke tax, structuring and compliance solutions designed to meet the varied requirements of the international sports professionals and, entertainers or touring artist.

In today's environment sports persons and entertainers need to be clear as to what they wish to achieve in relation to their wealth management. Speculative investments into unknown areas or exotic financial instruments are high risk and not a long term solution. Similarly, ‘aggressive’ tax schemes are becoming increasingly high risk and unwise for anyone in the public eye. The chance of enquiries and unexpected costs more than outweigh the potential fiscal benefits and the damage to 'brand value' of the image of sports professionals and, entertainers could be incalculable.

Throughout our wide international network, The SMP Group of companies can assist sports persons, entertainers and their advisers on appropriate trust and corporate structures that offer wealth protection and non-aggressive, sensible tax mitigation.

Such structures could include, for example, excluded property trusts for children and trust and corporate structures for foreign income of non-domiciled individuals who are taxable on a remittance basis. Corporate and trust structures can also be used as suitable vehicles to hold foreign investments, for example foreign holiday homes or luxury assets such as artwork, collectables, yachts and aircraft.

Through SMP Accounting & Tax, our UK tax specialists can also assist the individual to ensure that they fully comply with their UK tax obligations. We can assist in many areas, including:

  • Image rights/intellectual property advice and structuring.
  • UK property purchases for UK residents and non-UK residents.
  • Personal tax advice and compliance.
  • UK Inheritance Tax planning and compliance.
  • UK residence and domicile advice.
  • Tax planning and compliance services on entry/exit to or from the UK.
  • Dealing with enquiries from HMRC.
  • Review of documentation and contracts from a tax perspective.
  • Preparation of statutory accounts, financial statements, bookkeeping and VAT returns.

Non-resident sports professionals and entertainers who are appearing in the UK will also have niche tax matters to navigate. We can assist with these matters, including:

  • UK and international tax compliance, including claims for double tax relief and tax treaty exemptions.
  • Preparation and submission of Foreign Entertainers Unit (FEU) advance tax clearances, to mitigate exposure to the 20% withholding tax levied by the FEU and to offer certainty over the final UK tax liability.
  • Dealing with enquiries raised by the FEU.

If you would like to request an initial free consultation, or to find out more, please contact one of our specialists listed below.

Our Specialists in Sports and Entertainment

Rachael Hooper

Rachael Hooper
Senior Manager, Tax Department

David Hudson

David Hudson
Group Chief Executive Officer

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