Winning the lottery - Guide for gifts - Contractor UK Bulletin Board

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mudskipper replied

17 June 2013, 07:12
I won a tenner last Wednesday. I'm keeping it all.
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MarillionFan replied

17 June 2013, 07:04
Originally posted by doodab View Post

I wouldn't even tell anybody. Even if it was silly money like £100 million. I'd just pretend to go to work every day, trundle off from my crappy little house to my pad in paradise and post crap on CUK all day.

Probably.

Originally posted by Scrag Meister View Post

Same here.
Lots of my relations think I am loaded anyway and wouldn't be surprised when I bought a brand new GTR, a new home in the country and paid of my kids mortgages.

Feck that. I'd be rubbing everyone's nose in it.
I start by buying a gold, diamond encrusted suit like Liberace and heading off to my local Lidls with an entourage of 12 bouncers pushing people out of the way. Then down to Wetherspoons (outside of happy hour) for a few beers, again with my bodyguards saying 'no photos' & then off to Maccie D's for a Big Mac (oh yes I'll take the large I can afford it) having any kids removed and their balloons popped.

Oh yes. When I win I'm going large!
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Scrag Meister replied

17 June 2013, 06:56
Originally posted by doodab View Post

I wouldn't even tell anybody. Even if it was silly money like £100 million. I'd just pretend to go to work every day, trundle off from my crappy little house to my pad in paradise and post crap on CUK all day.

Probably.

Same here.

Lots of my relations think I am loaded anyway and wouldn't be surprised when I bought a brand new GTR, a new home in the country and paid of my kids mortgages.
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SueEllen replied

16 June 2013, 21:47
Originally posted by doodab View Post

I wouldn't even tell anybody. Even if it was silly money like £100 million. I'd just pretend to go to work every day, trundle off from my crappy little house to my pad in paradise and post crap on CUK all day.

Probably.

Nah what you tell them is that you are between contracts or working on your plan B. Then every winter you go and "work abroad".
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doodab replied

16 June 2013, 21:18
I wouldn't even tell anybody. Even if it was silly money like £100 million. I'd just pretend to go to work every day, trundle off from my crappy little house to my pad in paradise and post crap on CUK all day.

Probably.
Leave a comment:
SueEllen replied

16 June 2013, 20:54
Originally posted by minestrone View Post

All it does is cause fights in families, as I seen in mine.

WHS

I would give them SFA especially friends and siblings.
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AtW replied

16 June 2013, 20:15
Originally posted by mudskipper View Post

So a good incentive for them not to bump you off.

Only if tax due would exceed what MF left for himself
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mudskipper replied

16 June 2013, 20:09
So a good incentive for them not to bump you off.
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AtW replied

16 June 2013, 20:08
Originally posted by MarillionFan View Post

Would they all have to pay tax? And if so what would be a better way to gift it?

AFAIK no tax on such gifts in UK for the person who gets them, but if the person who GAVE them dies within 7 years then such gift would be subject to the death tax.
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Cliphead replied

16 June 2013, 20:06
Premium bonds.
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minestrone replied

16 June 2013, 20:02
All it does is cause fights in families, as I seen in mine.
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Old Hack replied

16 June 2013, 20:00
Originally posted by MarillionFan View Post

Lets say in theory you had a biggish type win on the National Lottery or Euromillions lottery & because of the size of your win you wanted to give some away to friends & family.

Let's say you won a sum over the weekend, lets call it say £4,324,174 & you wanted to give 300k to your brother, 300k to your sister and then £1m to your parents, and then some £50k for another few friends, keeping around £2.3 million for yourself (you dont want to be greedy)

Would they all have to pay tax? And if so what would be a better way to gift it?

No, as long as you actually won the lottery. HTH BIDI.

In seriousness, you can gift anything, as long as you live for 7 years afterwards.
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Moscow Mule replied

16 June 2013, 19:59
Buy their houses of them, and let them live for a peppercorn rent.
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MarillionFan started a topic Winning the lottery - Guide for gifts

16 June 2013, 19:56
Winning the lottery - Guide for gifts

Lets say in theory you had a biggish type win on the National Lottery or Euromillions lottery & because of the size of your win you wanted to give some away to friends & family.

Let's say you won a sum over the weekend, lets call it say £4,324,174 & you wanted to give 300k to your brother, 300k to your sister and then £1m to your parents, and then some £50k for another few friends, keeping around £2.3 million for yourself (you dont want to be greedy)

Would they all have to pay tax? And if so what would be a better way to gift it?
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