Euromillions

Freakbro said:
It wouldn't be Capital Gains (Cash is exempt from CGT for a start), it would just be taxed as income (savings)

So at that amount it would be the new 45% rate (no personal allowance either...oh noes!) so it would be:

Tax = 275,000 x 0.45 = £123,750
NI = calculation = £5,768

Total deductions : £129,518

Leaving only £145,482 / month to live on!!

So totally not worth it now :p
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Tax would be less, it's 20% then 40% then 45%. And no NI on interest.
 
When the prize fund gets up to £100m would it not be better to make 100 people millionaires than one person dirty stinking rich? I'd give a few million away to family and friends if I won it.
 
Freakbro said:
It wouldn't be Capital Gains (Cash is exempt from CGT for a start), it would just be taxed as income (savings)

So at that amount it would be the new 45% rate (no personal allowance either...oh noes!) so it would be:

Tax = 275,000 x 0.45 = £123,750
NI = calculation = £5,768

Total deductions : £129,518

Leaving only £145,482 / month to live on!!

So totally not worth it now :p
Click to expand...

I won't bother then :cool:


:p
 
PiKe said:
When the prize fund gets up to £100m would it not be better to make 100 people millionaires than one person dirty stinking rich? I'd give a few million away to family and friends if I won it.
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If you were giving away to family and friends where would you stop?
You'd leave a lot of friends and family disappointed when you choose to leave them out

Personally, I would be buying nice birthday presents and whatnot for family but I wouldn't be giving any of the money away to them
I suppose it depends on your relationship with your family. Perhaps parents and siblings

I would be spending the money finding and helping out truly deserving people who find themselves in unfortunate circumstances through no fault of there own
I see too many bad things happening to completely the wrong people nowadays
 
I could give all my blood relatives a decent amount of dosh, they only total 13 people in the whole world.

Then my closest friends (5 people).

Everybody else can do one :D
 
I wouldn't give any money to any relatives.

I would however, buy my parent and siblings their own properties, so they are mortgage free. Putting a roof over their head which nobody could take away, is very important to me.

The problem with giving money is that it generally leads to greed and complaints and arguments. Also people tend to spends cash gifts on frivolities, rather than necessities.
 
sunama said:
I wouldn't give any money to any relatives.

I would however, buy my parent and siblings their own properties, so they are mortgage free. Putting a roof over their head which nobody could take away, is very important to me.

The problem with giving money is that it generally leads to greed and complaints and arguments. Also people tend to spends cash gifts on frivolities, rather than necessities.
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Quite right,

I'd not give "cash" gifts.
 
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Rolled over again. :eek:
 
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