Luke Littler returns to the Ally Pally stage on Saturday night (Image: Getty)
has been told how he can avoid the taxman from taking a chunk of his 2024 earnings.
It’s been a stunning year for the Nuke, whose return from a debut season in professional darts has already topped the £1million mark.
That’s in part down to his sensational semi-final run at last year’s World Darts Championship, as well as a stunning victory during the teen’s maiden campaign.
And that’s before taking into account the money bagged from several sponsorship and brand deals either… all before he turns 18 years old!
But, according to Dan Squires, the Chief Commercial Officer at investment platform Saxo, Littler can keep more of his money to himself by doing one key thing.
He said: “Luke Littler’s whirlwind of a year has seen his earnings skyrocket, tipping him over the £1 million mark before his 18th birthday.”
“Under 18s have a tax-free ISA allowance of £9,000, which means he wouldn’t pay tax on any interest, dividends or profits made from investments made through an ISA account. From his 18th birthday, this allowance shoots up to £20,000, so he should be maximizing his ISA allowance.”
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Luke Littler won the Premier League in his debut season (Image: Getty)
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Squires continued: “Turning 18 next month, he’s now in a position to think about a variety of financial options, including investing and saving for his future. If he invested half of his career earnings today, or £500,000, into an index fund returning 7% annually, he would earn £36,145.04 in interest in the first year alone, around the same amount Brits earn on average each year working a full time job.
“If he leaves that £500k into the same fund for his retirement, at age 65, he would have £13,293,751.87 without ever throwing another dart again.”
Littler’s pursuit of a first-ever World Darts Championship title continues on Saturday night when he returns to the Ally Pally stage.
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The 17-year-old, who is the tournament favourite, brushed off the challenge of Ryan Meikle in round two, setting up a clash against one of darts seasoned pros, Ian White.
, White admitted he knows the crowd aren’t going to be on his side.
He stated: “If I went on to win now, I think everyone out there [Ally Pally’s fans] would be booing me, but every darts player would be shaking my hand.”