Prize Money: VAT
The question
To ask the Chancellor of the Exchequer, if she will confirm that ticket sales for prize draws offering both paid and free entry routes – as set out by the voluntary Code of Conduct published by the Department for Culture, Media and Sport – are subject to
Answered by Dan Tomlinson
HMRC confirm that prize draws offering both paid and free entry routes are not eligible for VAT exemption and paid entries will be subject to VAT at the standard rate of 20%.
Verbatim has judged this answer against the question that was actually asked — answered, partly answered, or evaded. Sign in to see the verdict →