Emma Raducanu is set to lose nearly half of the prize money she earned for reaching the HSBC Championships final at the Queen's Club. The British tennis star was defeated in straight sets by Donna Vekic on Sunday, finishing as runner-up in the tournament.
Raducanu's Run to the Final
Raducanu has struggled to replicate the form that saw her crowned US Open champion in 2021, but she battled her way to only her third WTA final last week in west London. Without dropping a set, she set up a date with lucky loser Vekic in the showpiece but fell 6-0, 7-6 (8-6). Despite the loss, her efforts were not in vain, as she pocketed £136,210 for her exploits at Queen's.
Tax Implications
However, tax expert Nicole Zalys, also known as The London Accountant, claims the 23-year-old will have to surrender almost half of her earnings to the taxman. Zalys exclusively said: "Assuming Emma is an additional rate taxpayer with other income exceeding £125,140, the applicable tax rate on her prize money will be 45 per cent. She is also likely to have Class 4 National Insurance to pay at two per cent on this income. Therefore, her total tax bill is an effective rate of 47 per cent."
Zalys added: "Emma is a classic example of someone with multiple revenue streams. Not only does she have her on-court winnings, she also receives money from lucrative brand deals, which go through a limited company, Harbour 6 Limited." Applying this to the roughly £136k Raducanu earned at Queen's, her total tax liability will be £64,018, leaving her with an estimated take-home of £72,192.
Raducanu's Reaction
After defeat to Vekic, she took time to acknowledge the support she received from her home fans throughout the competition. She said: "It's been an incredible week for me, making the final here, playing in my home city, in my home tournament. The support I have received all week has been incredible but I really want to take this opportunity to thank everyone."
"Today was a really tough match. Donna played extremely well from the start to the finish. So thanks for getting me through some tough moments this week and also for helping me push back in that second set." Raducanu later added: "The performances I had this week, I played really well. I was able to play and dictate, and that's something I wasn't able to do [in the final]."
"I managed to get myself back into the second set, and I'm proud of how I fought. That's not something that in the past years I have always done, so that's a positive."
