James Arthur paid himself almost £600,000 last year even though he was forced to cancel tour dates because of lockdown.
Accounts for The X Factor winner revealed that he was able to fund the big dividend payout from his firm Raff Music Limited.
Even after the windfall he was left with more than £900,000 in his three companies which control his music income.
Payout: James Arthur paid himself almost £600,000 last year even though he was forced to cancel tour dates because of lockdown
James, 33, revealed Raff Music Limited made a profit of £555,613 in the 12 months to the end of March 2021 and paid a corporation tax bill of £128,433 to HMRC.
The company had enough already in the bank to cover a dividend payout of £585,000, which came on top of a £633,000 payout the year before, meaning he paid himself £1.218 million in the last two years.
In 2020 James had to axe upcoming gigs and issue refunds to thousands of disappointed fans because of the lockdown.
Not happening: In 2020 James had to axe upcoming gigs and issue refunds to thousands of disappointed fans because of the lockdown
He had a top ten hit – Lasting Lover – with Sigala and hit number 16 with Train Wreck during the year of the accounts, but has struggled to hit high spots in the charts since then.
Despite this Raff Music Publishing Limited has reserves of £848,000 and Raff Music Limited has £9,443, and JA Touring has £78,181.
James started his business empire in 2013 a year after winning The X-Factor and has gone on to have a series of hits including two singles which topped the charts.
Success: James started his business empire in 2013 a year after winning The X-Factor (pictured) and has gone on to have a series of hits including two singles which topped the charts
Before hitting the big time James has said that he went off the rails in his teenage years, falling out badly with his mother.
In 2012 he said: ‘I started sleeping rough when I was 15. I got kicked out of my mum’s house and I didn’t really care where I slept.
‘I understand why she chucked me out because I was unbearable to live with. She couldn’t cope with me because I was so angry.’
James added: ‘I either crashed on someone’s couch or a park bench. I was a pretty tough kid, but I had to steal food a couple of times.
‘I went to supermarkets like Sainsbury’s and filled up a plastic bag to try to steal enough food for the week.’
MailOnline has contacted a representative for further comment.
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