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Capital gain tax- competition prize
skirbo
Posts: 2 Newbie
in Cutting tax
Hi,
I work for a company that will be giving away a 15k car and wondered if we will be liable for capital gain tax of if the winner would have to pay anything?
I work for a company that will be giving away a 15k car and wondered if we will be liable for capital gain tax of if the winner would have to pay anything?
0
Comments
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Not CGT, but possibly income tax. How will they decide who gets the car?£705,000 raised by client groups in the past 18 mths :beer:0
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Private cars are exempt from CGT anyway.
I suspect the winner will have to pay his own insurance - often the case when cars are prizes.0 -
thanks...to enter the prize draw there will be a question to answer and the winner will be selected at random.0
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