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Prize draw. Taxable income?

2 replies

Pinkcadillac · 11/11/2020 15:13

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 posts:
prh47bridge · 11/11/2020 18:37

No tax implications.

Pinkcadillac · 11/11/2020 21:58

Thank you!

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