DrawHouse, a B2B prize-draw platform, has issued a warning to UK prize draw operators over potential changes in the treatment of VAT by His Majesty’s Revenue and Customs (HMRC), saying that the new rules could reduce operator margins by as much as 30%.
DrawHouse, a business-to-business platform specializing in prize draws, has cautioned prize draw operators in the UK about possible alterations in VAT handling by HMRC. They highlighted that these changes might lead to a significant decrease in operator profits, potentially up to 30%. The alert from DrawHouse comes in response to a recent parliamentary inquiry that raised concerns about this matter.
