How Luke Littler could lose £500K in just 12 months on the PDC tour - and darts legend Phil 'The Power' Taylor's advice on how to keep track of his rising fortune

Luke Littler could lose an eye-watering amount of money should he make a little-known error when it comes to his prize funds.

Littler, 18, has enjoyed a blockbuster first full year on the senior PDC tour, winning the World Championship for the first time in January.

But he has now been advised by former darts legend Phil Taylor to set up two bank accounts to manage his £1.1million earnings from the past year.

Despite his young age, Littler will be hit with a hefty 45 per cent tax rate after his first full year on the tour, which could mean that he's up to £500,000 worse of after a visit from the taxman.

But Taylor, 64, has been on hand with a useful piece of advice for the prodigal player.

The icon has revealed that he used two separate accounts to be able to efficiently manage his finances and tax obligations.

According to Sport Bible, Taylor said: 'Make sure you look after your money.

'Two bank accounts - one in one, and half in another. So that's your tax. That's what I always used to do.

'Try to start investing your money, so if anything happens, if you fall down and break your arm or something, you've got something to fall back on.'

His advice comes in the wake of Littler showing a financial maturity beyond his years, as he has spending on holidays and meals out for friends and family.

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Taylor also had a further warning for 'The Nuke', concerning his social media activity.

Addressing Littler's active presence on Facebook, X and Instagram, 'The Power' said he should refrain from getting distracted by them.

Taylor added: 'Keep off social media. Don't bother with it. Let somebody else do it for you. You don't need to read things because it can upset.'

Taylor recommended hiring a social media manager to handle his social media platforms, so that Littler can focus on the dartboard.