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TAx on wins? not gambling
michellew_2
Posts: 1,298 Forumite
in Cutting tax
As a regular on the Comps thread I was wondering if wins needed to be declared? Any ideas.
I know gambling isnt taxable but not sure if comp wins were
I know gambling isnt taxable but not sure if comp wins were
Happy with any wins this year :A
0
Comments
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Not taxable if they're competitions generally open to all. Sole exception, I'm aware of, is if your employer runs something purely in-house. Then it becomes an employment related benefit.If you want to test the depth of the water .........don't use both feet !0
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Thanks Mikey that was quick - no just general for all comps - been quite lucky then got worried in case Mr IR wants a cut lolHappy with any wins this year :A0
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No ...... they'll take paintings etc in lieu of tax ...... but I doubt they'd accept part of a luxury hamper.
If you want to test the depth of the water .........don't use both feet !0 -
Not got the hamper yet, theyre my "dream prizes" lol - have to keep trying Happy with any wins this year :A0
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Graham v Greene
Gambling wins are not taxableI didn't do it, nobody saw me do it, you can't prove a thing!
Quidco and Topcashback, £5,687
ShopandScan, £3,470
Tesco Double The Difference, £2,700
Thomson EU261/04 Claim, £1,700
British Airways EU261/04 Claim, EUR12000
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