The flame-haired star is said to have earned £7.7 million (R168,106,733.49) last year from record sales and touring. The 24-year-old singer - who released five singles from his latest album x, including his first UK number one song Sing - is said to have recouped a huge £5.6 million (R122,194,464.90) from selling his records and made an additional £2.1 million (R45,839,512.03) from being on the road.According to the Daily Mirror newspaper, the flame-haired star's successful year means he could be hit with a tax bill for as much as £1.8 million.Sheeran made £6.9 million (R150,554,146.90) last year after channelling £5.1 million (R111,279,152.06) through one company.What's more, his debut album + has gone multi-platinum and follow up x - pronounced "multiply" - topped the US and UK charts following its 2014 release.Last year, the singer/songwriter revealed he pays himself an allowance of £1,000 (R21,823.68) a month to ensure he doesn't spend all of his month at once.He said: "I've not upgraded because I don't spend much money. If I had all my money in one account I would spend all of it, so I get an allowance. Maybe a grand. I spend most of it on taxis!"Sheeran is currently making more money as he's touring Australia and New Zealand, heading to the Allianz Stadium in Sydney on Wednesday...