Bit random but I didn’t know where to post to get an answer. I was watching TV last night when an advert came up for a phone-in competition in which you could win £20,000 tax-free cash. How is that cash tax-free? What do the competiotion hosts do to get that money tax-free?
In: 14
Competition prizes and winnings are always tax free in the UK.
They are tax free because our tax laws say they are.
The competition organizers haven’t done anything. They’re just promoting it as “tax free” because they think some people won’t realise the prize is tax free and think it will make the prize more desirable.
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