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Post Info TOPIC: VAT reclaim on purchase of competition prize
Kitty37


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VAT reclaim on purchase of competition prize
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Hi - my client held a competition and paid £500 for a giftcard for the winner. No money was paid to enter the competition. Can my client claim the VAT back on the purchase of the giftcard? 

I have looked at various information online and it's like wading through treacle - lots to read but no definitive answer that I can find sadly.



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Shamus


Forum Moderator & Expert

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No.....There is no VAT on gift cards.

The VAT (if any) is on the goods and services purchased with the gift card which is the responsibility of the winner of the card, not the person who purchased the card.

interested to know what sites you have been looking at that may have confused that one?

kindest regards,

Shaun.

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Shaun

Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
Artois


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Kitty37 wrote:

I have looked at various information online and it's like wading through treacle - lots to read but no definitive answer that I can find sadly.

 Agree with Shaun no VAT on gift cards

https://www.gov.uk/vat-businesses/discounts-and-free-gifts



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Doug

These are only my opinions of how I see things and therefore should not be taken as advice
Cheshire


Master Book-keeper

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. 



-- Edited by Cheshire on Tuesday 5th of March 2019 05:47:51 PM

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 Joanne 

Winner of Bookkeeper of the Year 2015, 2016 & 2017 

Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position
Kitty37


Senior Member

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Hi Shaun - the confusion came with the claiming of VAT on prizes for competitions - I didn't actually check out VAT on gift cards - guess that would've been a better place to start! Thanks for the information. Much appreciated.



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