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I've won a car I don't need, what should I do?

Noonescores · 2014-03-26 21:58:21

Hi everyone, first time on this forum. I've won a Hyundai i20 in my works lottery. I'm chuffed to bits but it's too small for me keep as I have 2 young children and the pram won't fit in the boot. The car is worth approx £8,500. I can take the car or take £5k cash instead. I would like to take the car, and immediately sell…

Comments

perc Posts: 1,040 Forumite

27 March 2014 at 1:49PM

Daza, I believe if it is an incentive driven prize ie who sells the most products then it is taxable. This does not sound like that as the OP clearly states that it was a lottery, therefore the prize is not taxable. We have a weekly work run lottery and my colleague has won it twice (£5000 each time!) and never had to pay tax.

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