Reviewed by a Qualified Accountant
This content has been reviewed by our qualified chartered accountants. However, you should always check with a professional. If you have any questions at all, don’t hesitate to get in touch.
If you spend your life on the track, the pitch, or in the gym, your focus should be on your performance and not your tax return. Whether you are a racecar driver, a professional athlete, or a high performance personal trainer, your income can quickly become a financial minefield of sponsorships, prize money, and appearance fees.
While your daily life is about training and results, getting your paperwork in order is vital to avoid headaches from HMRC further down the line.
Why Use Dead Simple Accounting
At Dead Simple Accounting, we can take care of everything for you, allowing you to focus on your career and your fans. We already work with sports professionals and athletes, so we understand the unique tax challenges you face, such as global travel and complex endorsement deals.
We know exactly what expenses you can claim, as we understand the high cost of specialised equipment, coaching, and physical recovery.
But don’t just take our word for it, check out our five-star ratings across Google and Facebook.
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What Expenses Can Sports Professionals & Athletes Claim?
Claiming expenses is a vital part of your accounting, as it allows you to offset the costs of your career against your income. As long as you can prove that the cost was “wholly and exclusively” for your professional work and you keep your receipts, our team can guide you through the process to save those precious pennies.
The following are expenses sports professionals may be able to claim:
- Specialist Kit and Equipment: From racquets and boots to racecar parts and maintenance.
- Coaching and Training: Fees for personal coaches, gym memberships, and facility hire.
- Health and Recovery: Costs for physiotherapists, sports massages, and specialist nutritional supplements.
- Travel and Subsistence: Flights, hotels, and meals when travelling for competitions or training camps.
- Management and Agent Fees: Commission and fees paid to agents or management teams.
- Marketing and Branding: Professional photography, website hosting, and social media management.
For a more in-depth list, take a look at our expenses for sports professionals page.
Useful Resources
These days there’s an abundance of tools and resources at your disposal, software that handles your invoices and expenses, to mobile based banks that cut the boring paperwork.
We only work with the best of the best, and have partnered with several big names to offer you various goodies when signing up.
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