Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Thu, 14 Jul 2022 02:54:24 GMT by bjaybjay
I am a UK tax resident and I won 50,000 USD from a programming contest from a US company. Based on the US-UK tax treaty and the W-8BEN form I have not been taxed and the competition organizers sent me the 50,000 USD. Am I taxable on this prize winning in the UK?
Posted Fri, 15 Jul 2022 16:51:42 GMT by HMRC Admin 10
Hi
You will not be taxable on the actual prize money but will be taxable on any interest or dividends that it generates if invested.
Thankyou.
Regards.
Posted Fri, 15 Jul 2022 18:09:18 GMT by bjaybjay
Can you send me the relevant laws and regulations on this?
Posted Tue, 19 Jul 2022 13:10:16 GMT by HMRC Admin 26
Hi,

Refer to guidance at:

Business Income Manual


Thank you.

You must be signed in to post in this forum.