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Tax considerations for e-sports players

© Copyright LexisNexis 2024. All rights reserved.

22 May 2023 / David Boyce , Shawn Healy , Alistair Culverwell , Jack Sloggett

Issue: 4889 / Categories: Comment & Analysis , entertainers , HMRC , ITTOIA 2005 , sport , UK VAT , Business , Companies , Income Tax , International , VAT

122587

Tax considerations for e-sports players

E-sports (short for electronic sports) are video games that are played competitively. It is a relatively new sport but one that is growing rapidly worldwide. The growth of e-sports in recent years has been meteoric and all the signs are that this trajectory is set to continue. According to a study by Statista the global revenue for e-sports is due to hit US$2.9bn by 2025.

A sport that started in players’ bedrooms now has an estimated yearly worldwide viewership of 500 million again according to Statista. Huge live events are held such as the Fortnite World Cup in front of live audiences and the earnings of those involved in the sport particularly at the top end are growing exponentially.

With greater financial rewards and commercial opportunities comes increased regulatory scrutiny. Tax authorities around the world including HMRC are quickly getting up...

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Tax considerations for e-sports players

© Copyright LexisNexis 2024. All rights reserved.

22 May 2023 / David Boyce , Shawn Healy , Alistair Culverwell , Jack Sloggett

122587

Tax considerations for e-sports players

E-sports (short for electronic sports) are video games that are played competitively. It is a relatively new sport but one that is growing rapidly worldwide. The growth of e-sports in recent years has been meteoric and all the signs are that this trajectory is set to continue. According to a study by Statista the global revenue for e-sports is due to hit US$2.9bn by 2025.

A sport that started in players’ bedrooms now has an estimated yearly worldwide viewership of 500 million again according to Statista. Huge live events are held such as the Fortnite World Cup in front of live audiences and the earnings of those involved in the sport particularly at the top end are growing exponentially.

With greater financial rewards and commercial opportunities comes increased regulatory scrutiny. Tax authorities around the world including HMRC are quickly getting up...

If you or your firm subscribes to Taxation.co.uk, please click the login box below:

If you are not a subscriber but are a registered user or have a free trial, please enter your details in the following boxes:

Subscribe Now...

Alternatively, you can register free of charge to read a limited amount of subscriber content per month.

Once you have registered, you will receive an email directing you back to read this item in full.

Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.

Issue:

4889

Categories: Comment & Analysis [1] , entertainers [2] , HMRC [3] , ITTOIA 2005 [4] , sport [5] , UK VAT [6] , Business [7] , Companies [8] , Income Tax [9] , International [10] , VAT [11]

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