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Prize draw. Taxable income?

(3 Posts)
Pinkcadillac Wed 11-Nov-20 15:13:17

I run a small business and would like to organise a free draw amongst my Instagram followers. The prize is likely to be worth less than £500 (will not be cash). I was wondering if there will be tax implications for the winner? Any advice is welcome! thanks

OP’s posts: |
prh47bridge Wed 11-Nov-20 18:37:23

No tax implications.

Pinkcadillac Wed 11-Nov-20 21:58:30

Thank you!

OP’s posts: |

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