Rafael Nadal to Skip Wimbledon Warm-Up Event to Avoid Taxes

Rafael Nadal to Skip Wimbledon Warm-Up Event to Avoid Taxes

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WebCPA reports that tennis player Rafael Nadal will not play in the traditional Wimbledon tennis tournament warm-up event next year because of stringent British tax laws:

The No. 2-ranked Spanish tennis player said Thursday he can “lose money” playing in the Queen’s Club tournament because of the tax laws that affect athletes, musicians and actors.

He will still play Wimbledon and the November ATP World Tour Finals in London.

Nadal, who played in the Queen’s Club tournament five of the past six years and won in 2008, will instead this year participate in a grass-court tournament in Halle, Germany.

The overseas taxes are levied on prize money and appearance fees in Britain and a proportion of worldwide endorsement earnings.

The tax law was implemented after Britain’s tax authority won a landmark 2006 case against Andre Agassi in which he was ordered to pay tax on a portion of his endorsement money from Nike and Head products he used in British events.

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About Peter Pappas

Peter is a tax attorney and certified public acccountant with over 20 years experience helping taxpayers resolve their IRS and state tax problems.

He has represented thousands of taxpayers who have been experiencing difficulty dealing with the Internal Revenue Service or State tax officials.

He is a member of the American Association of Attorney-Certified Public Accountants, the Florida Bar Association and The Florida Institute of Certified Public Accountants and is admitted to practice before the United States Tax Court, the United States Supreme Court, U.S. District Courts - Middle District of Florida

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