What are the tax implications of winning money or valuable prizes?

What are the tax implications of winning money or valuable prizes? do you pay tax if you win the lottery
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double joker slot No deductions or tax-free exemptions would be allowed to be deducted from the winnings if they are taxable So, the taxpayer cannot claim

do you get taxed on lottery winnings uk A: No The tax will be deducted from your winnings and paid by the National Lotteries Board to the Board of Inland Revenue Q: Who But if you take the lump-sum cash prize, you'll pay tax twice: on the prize when you win it, and on the income you get by investing it This