Euromillions

I won £8 last time so spent it on tonights :)

I i give someone £1mil do they get taxed?

Yes, I think anything over £325k is gift/inheritance taxed, but members of a syndicate sharing a win don't pay tax.

The usual inheritance laws apply, so I don't think there's any tax to be paid by the recipient unless the giver dies within 7 years of giving.
 
I suppose if you sat on that money like a chump and didn't do anything worthy with it, help people, set up charities, build schools in areas of need of education etc.
 
Am I right in thinking I could get 3.1 million quid a year in interest alone from this ammount?:eek::eek::eek:

Something like that, plus with this amount you don't really need to account for inflation, as you will be long dead before that realistically impacts your millions. :D
 
The usual inheritance laws apply, so I don't think there's any tax to be paid by the recipient unless the giver dies within 7 years of giving.

So I can give 20 people £1,000,000 each and no-one pays any tax if I live for 7 years?

Thanks,

G
 
Won twice on the lottery in the past 3 weeks! First time was the first time I'd played in ages, won £7 odd on the Euros (such a measly amount for 4 numbers!) and then won £3 again last week. The annoying thing about the last win is I was in the UAE when I received the "We have news about your ticket email" and I always get a lucky dip, so that combined with the fact that all lottery/gambling sites etc are blocked in UAE meant I couldn't check how much I'd won for a week!
 
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