Arthur Fery, the British wildcard who stunned the tennis world by reaching the Wimbledon semi-finals, will see nearly half of his £900,000 prize money taken away in taxes. The 24-year-old, who climbed into the world's top 30 after his remarkable run, faces a combined tax and National Insurance bill of approximately £423,000.
Tax Deductions Explained
Fery's £900,000 payout for reaching the semi-finals is subject to the UK's 45% income tax rate on earnings over £125,140, plus a 2% National Insurance contribution on profits above £50,270. This results in an income tax bill of £405,000 and an additional £18,000 in National Insurance, leaving him with around £477,000 after deductions.
Self-employed UK residents, like Fery, must pay these taxes on their prize money. However, players can deduct relevant business expenses such as flights, coaches, and equipment, which could slightly reduce the taxable profit.
Comparisons with Other Players
Fery is not alone in facing a hefty tax bill. Jannik Sinner, who won his second consecutive Wimbledon title on Sunday, earned £3.6 million but will lose approximately £1.62 million to HMRC.
Fery's Future Plans
Despite the deductions, Fery remains upbeat about his future. "It means I can play the top players week in week out and compare myself to them and keep working on my tennis," he said. "I am going to have to get accustomed to the full life of tour with more media attention and all of that but I think I'm ready for it. It is going to be a first as well playing the US Open. I didn't even play qualifiers last year so it's going be a great experience."
Fery's fairytale run included wins over Zizou Bergs, Grigor Dimitrov, and Flavio Cobolli before losing to Alexander Zverev in the semi-finals. He has now become Britain's top-ranked player and is eager to build on his success at future tournaments.
