Apologies, but not come across this before.
New client, Limited company, trade is buying vans and converting to motorhomes for sale.
They have emailed me today saying they are thinking of offering one as a prize. I've gone back and asked if there is an entry fee for the competion, who is it open to etc.
Few (might be stupid) questions
1) Is the cost of the van and the fitout still allowable in the P&L?
2) I assume the entry fees ( if applicable) are income taxable via CT?
3) Is there any tax burden on the winner?
4) any VAT headaches?