If you won 1 million on the lottery, what would you spend it on?

[Moscow Mule]

For shares and stuff like that - not for end user things you buy.

Gambling is not an investment so it should not qualify for tax refund in case of losses.



The issue is simple - almost everything is taxed very hard in the UK, however huge gambling wins are not: this is wrong because this lack of taxation does not encourage anything good, like say investment into new drugs that can cure AIDS etc.

Therefore gambling wins should be taxed at the same rate as income tax is - perhaps with small annual tax free allowance.

IT'S ALREADY TAXED WHEN YOU PLACE THE BET!!!!!!!!!!!!!!

[hyperD]

I'd retire in Soneva Fushi, Maldives until I cork it by eating too much lobster, drown from a Tsunami or until inflation nibbles away at the stash like one of AtW's disease infested "tree rats".

[dude69]

IT'S ALREADY TAXED WHEN YOU PLACE THE BET!!!!!!!!!!!!!!

Only lottery tickets are taxed. Not casino or bookies stakes.

[AtW]

IT'S ALREADY TAXED WHEN YOU PLACE THE BET!!!!!!!!!!!!!!

And your inheritance was already taxed when it was created - very heavily taxed too, so why should it get taxed again when you get it? Same with gambling.

[Churchill]

And your inheritance was already taxed when it was created - very heavily taxed too, so why should it get taxed again when you get it? Same with gambling.

AtW, 'cough!

[hyperD]

This is yer basic lottery winner house:

http://www.rightmove.co.uk/viewdetai...a_n=1&tr_t=buy

£1m is a modest detached, hardly millionaire level.

This house is virtually next door to my parents!! I've seen this!

[Moscow Mule]

Only lottery tickets are taxed. Not casino or bookies stakes.

No, Not any more - the taxed has been moved from the individual to the corporate via the thingie levy (forget what it's called now). Used to be 9p in the £ - a real pita to calculate.

[AtW]

Used to be 9p in the £ - a real pita to calculate.

Should have made it 100p in the £ - this would make it easy to calculate and also discourage gambling.

[Moscow Mule]

Should have made it 100p in the £ - this would make it easy to calculate and also discourage gambling.

Clever AtW you're absolutely right.

muppet.

[ChimpMaster]

I'd buy one of those s3x swings that you can attach to the ceiling, plonk ur girl on and swing her back and forth onto your hammerhead.