Sam Smith paid themself a huge £3.8m in just ONE year despite being unable to tour

SAM Smith paid themself a massive £3.8million last year, despite the coronavirus leaving them unable to tour.

The Grammy-award winning artist, who released third album Love Goes in October, banked £10,000 a day from their live music firm.

New accounts show a £3.8m payment to them from SSW Live LLP – almost three times the £1.4m paid out by the firm in 2019.

That year Sam, 28, had a small run of 17 shows in South America and South Africa.

Their Cape Town gig was cut short after the singer suffered a bout of anxiety onstage.

Sam said afterwards: "The last week, or so I've been doing these incredible shows, and from my pics, I look super happy and calm and collected, and I am happy, and sometimes I am calm.

"But the last few weeks my anxiety has been SO F**KING INTENSE!! I can't even begin to explain."

They added: "I've felt completely out of control and as if I'm going to snap and everything is going to come undone.

"However, for the first time ever I have been trying to really tackle and fight against these horrible thoughts and tidal waves of fear."

The only gig Sam performed in front of a large audience last year was Sydney's Mardi Gras back in February.

After paying out the £3,778,655, Sam's firm retained a £1,225,914 nest egg – including £911,974 in cash.

The payment – which amounts to £10,352 per day – is reported in a note to the accounts under ‘drawings.’

This type of pay is made by firms like SSW which are set up as limited liability partnerships (LLPs) instead of limited companies.

Landing their owners with a share of the profits as ‘drawings’ rather than dividends.

The new accounts are for the year ended 31 March 2020.

On top of the £1.2m left by Sam in their live music firm, they retained £1,275,950 in Sam Smith World – listed as an ‘artistic creation’ business on Companies House.

Its best year was 2018 when it held £8.9m in assets for them – including £7.1m in cash. 

On top of these companies Sam has a third firm. It is called SSW Publishing that was set up last year.

 

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