Why are trips and prizes won on game show taxed even though they are said to be “free”?
In: Other
In the UK prizes on game shows, gambling and the lottery are tax free.
There are rules around what constitutes gaming and prizes though – it has to be open to entry of more than one Person – there has to be a legitimate chance of you not winning – winning has to be a game of skill or chance.
But if you win the lottery it’s all yours.
Latest Answers