Emma Raducanu has almost half of her £152k Wimbledon winnings taken off her
Emma Raducanu took home a six-figure sum in prize money after reaching the third round of Wimbledon, but the former US Open champion will lose a sizeable chunk of it
Emma Raducanu faces a hefty tax bill after making six figures at Wimbledon
(Image: GETTY )
Emma Raducanu's Wimbledon journey ended in the third round, resulting in a significant cut from her prize money after an impressive start at SW19.
The British talent was ousted by Aryna Sabalenka in straight sets, following commanding victories over Mimi Xu and Marketa Vondrousova.
Despite a valiant effort against Sabalenka, including a tiebreak in the first set, Raducanu couldn't overcome the Belarusian's strength. Her third-round exit guarantees her £152,000 in winnings, a sum that would have increased to £240,000 had she progressed to the fourth round, reports the Express.
However, the former US Open winner faces a substantial tax deduction from her earnings. Paul Barham, a tax partner at Forvis Mazars, explained to Express Sport: "Assuming that Emma is an additional rate taxpayer (with other income over £125,140), the tax rate that will apply to the prize money will be 45 per cent, resulting in a UK tax liability of £68,400."
Barham added: "Assuming Emma is resident in the UK, she is also likely to have Class Four National Insurance to pay at two per cent on this income resulting in a National Insurance liability of £3,040.
"Therefore, her take-home pay after tax and NIC would be £80,560.
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"These figures represent the liabilities before taking into account any deductible expenses such as travel and accommodation costs and coaching fees.
"These expenses can be deducted from the taxable amount and will therefore reduce the final tax bill."
Following her match, Raducanu was visibly moved, confessing in her post-match press conference that finding positives was challenging.
"I think I'm just very self-critical," she said.
"It's hard to see. Of course, I'm very proud of being competitive on the court. I think I would rather that than it being completely one way.
"But, yes, there are positives.
"Right now, it's so soon after the match. I think it's better for me to kind of feel a bit of the pain right now and then process it better that way.
"I think it's difficult to see that right now, having just come off the court.
"It's hard to take a loss like that. At the same time, I'm playing Aryna, who is No. 1 in the world, a great champion. I have to be proud of my effort today."
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Sabalenka has earned herself a quarter-final clash with Laura Siegemund following her victory over Elise Mertens in the fourth round. Should she triumph at Wimbledon and claim her maiden title, she stands to receive a staggering £3million in prize money.
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