Wasn't sure where else to post this. If I received several gifts of £2000 from people who I am not related to, what would the tax related issues to this be? Do I have to declare it. I'm talking about those free iPod schemes where I've received a monetary alternative instead of a Macbook for example. Thanks.
It depends why you have received it.... if it can be conceived as being "earned" rather than "won" or "gift" then it doesnt matter that it is a product or monies it could potentially be taxed. Do you do self assessment tax returns or are you just under payee or were the "gifts" to a ltd company? If you are only under payee it is unlikely the tax office will want to bother with a tax return for £2000 but if you are already having to complete a return then they may want to know (in which case you most likely have an accountant and you should ask them)