Currently, UK lotteries are very popular among local residents, some of whom take part in National Lottery and EuroMillions draws on a regular basis. However, are lottery winnings, including jackpot winnings, being taxed in the UK? The non-ministerial department of the UK Government Her Majesty’s Revenue and Customs (HMRC) does not regard lottery winnings as an income, which is the reason why the generated lottery winnings are not taxable up to date. However, lottery players in the UK need to bear in mind that they may face tax implications once…
Read MoreWhat Are the Taxes on Jackpot Winnings in UK?
