Wallace was born in Dundee, Scotland and attented Park Place Primary School but also grew up in Loughborough and Bath, England. He began writing reviews for video game magazines at the age of 13 for school work experience: a reviewer had become ill and so Wallace was given the opportunity to review a game. At 18 he started writing comedy, mainly through the magazine Comedy Review. He specialised in radio production at the University of Westminster.
At 22, he became a BBC producer. He was part of the production team behind British Comedy Award-winning Dead Ringers, the critically-acclaimed cult hit The Mighty Boosh, and Ross Noble Goes Global.
As a journalist, Wallace has worked for The Guardian, The Independent and other publications.
Wallace currently has a column in the free weekly publication Shortlist. In September 2009 it was announced in this column that he and his wife were expecting their first child together. Their son was born on 30th December 2009.
