Record £53m Wimbledon winnings will benefit HMRC

Will Drysdale, Senior reporter, Business & Accountancy Daily [2023-25]- Croner-i

As the prize money rises each year for the winners of Wimbledon, it also does for HMRC as the record-breaking pot is taxable.

Wimbledon winnings are completely taxable and this year the total prize pool is £53.5m, a 7% increase on last year’s pot. The winners of the finals for the men and women will win £3m each.

This record prize for the singles winners has soared by 11.1% since last year’s championship, which will mean HMRC is set for an even larger share of the takings as the tournament starts.

Rober Salter, director at Blick Rothenberg, said: ‘Leading professional events such as Wimbledon, or the Open Championship in July, aren’t just a win for sports fans, they are a win for the Revenue’s coffers too.’

Now, like every year, each player from the first round through to the finals on the weekend of 12 July wins a slice of the £53m, just making it to the first round earns the individual a prize of £66,000 slotting them directly into the higher band on income tax.

Salter said: ‘Wimbledon continues to be a lucrative source of taxes for HMRC, as not only are the tournament winnings taxable, but the Wimbledon prize fund has doubled over the last 10 years, with 2025 alone seeing a further 7% increase in total prize money.’

The runner up of the men’s and women’s singles each win £1.52m, this then falls to £775,000 for semi-finalists, and £400,000 for getting to the quarters, all of which are up substantially since last year’s Wimbledon.

In total the men and women’s singles total winnings pot increases to £38.8m this year.

Salter added: ‘While most of the players at Wimbledon will not be tax resident in the UK, the tax rules applying to international sports people mean that they will be fully taxable in the UK on their winnings.

‘As well as any additional UK-specific fees which they might get while in the UK for appearing at specific events for sponsors and a share of their wider image and marketing fees.’

It’s not only the single tournament’s prize pools that have increased in the last year, as the winners of the doubles will get just over £3m in total, up by 4.4%. Additionally, the mixed doubles winnings has increased by 4.3% and the wheelchair singles by 5.6%.