Is there anything I have to consider when receiving prize money from the USA i.e. limits etc.
This is a hypothetical question as I have not won any money or received a scam email claiming that I have.
I have no citizenship in the US, the competition is similar to a game jam and I would compete in the UK but the company hosting the competition is based in the US. I am currently in the Basic Tax rate.
The prize money is around $30,000 or roughly £22,125.
I want to know if the laws will allow me to accept the prize money and how much I may get taxed.