My limited company client has won a a fairly substantial cash prize in a national competition. I have seen previous threads re whether this is taxable or not, but they are all quite vague. Can anyone direct me to the relevant section in the HMRC manuals or similar - I am struggling to find anything concrete.
Thanks
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You could try BIM 41800 & BIM41810. What did the competition relate to - is it linked to the company's trade? I assume yes.