Gregg Wallace set to 'give back half' of £400,000 MasterChef earnings

Presenter Gregg Wallace is set for another blow as he will reportedly need to give back half of his Masterchef earnings. According to reports the author and TV presenter, who has been co-presenter and judge alongside John Torode on BBC's Masterchef since 2005, was said to be earning £400,000 a year for his work on the BBC show.

However, this figure may include other work related to MasterChef, such as endorsements or other appearances too. It's worth noting that he also earns money from other ventures, such as his appearances at events, but the exact figures are not publicly available. But based on the £400,000 alone, the taxman will be taking a hefty sum from Wallace, leaving him with just over half of his earnings. According to a tax calculator, the 60-year-old would have to pay £166,113.05 in tax and £10,010.60 in National Insurance, leaving him with just £223,786.35 going into his bank account.

Despite being a high earner, Wallace reportedly borrowed £70,000 last year to fund his fitness venture, the ShowMe.Fit app. He was inspired by Joe Wicks and his popular Body Coach app before launching the firm in 2020.

The latest accounts for last year show the firm has made a modest profit of £60,000 for the 12 months to the end of February last year even though it had to borrow money too.

In 1989, he started George Allan's Greengrocers, which also had a turnover of £7.5 million at its peak, according to Personally Speaking Bureau. According to Celeb Worth, Gregg's net worth is a staggering £3.5 million overall.

Unfortunately for Wallace, his financial situation could be hanging in the balance after allegations over unacceptable behaviour. After a lengthy nine-month investigation, the TV chef has been fired from MasterChef.

This comes amid numerous allegations of misconduct as more than 50 people made complaints about his behaviour, all of which Gregg has denied.

In November 2024, 13 people initially accused him of making inappropriate sexual comments, but BBC News have claimed to have received 50 more complaints from people who say they encountered him across a range of shows and settings.

The majority say he made inappropriate sexual comments, while 11 women accused him of inappropriate sexual behaviour, such as groping and touching, allegations of which Wallace firmly denies.