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Quick Question
emmie101
Posts: 45 Forumite
Hi there,
Just a bit of wishful thinking on a Saturday afternoon, but on the cash wins say from itv, c4 etc etc I know they are tax free but do you still declare them to HMRC?
Something that's bugging me!
Just a bit of wishful thinking on a Saturday afternoon, but on the cash wins say from itv, c4 etc etc I know they are tax free but do you still declare them to HMRC?
Something that's bugging me!
0
Comments
-
Nope, not usually.
Only if you're on benefits and the win takes you over the savings threshold.0 -
Thanks starrybee!0
-
No, it is not treated as income so there is nothing to declare to HMRC.
Once you have the money it is part of your capital so if you already need to declare capital/savings for any reason it would just have to be declared in the usual way.0
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