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PaulB | 12:44 Thu 04th Mar 2004 | How it Works
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If someone wins 3million on the lottery, how much tax would they have to pay on that?
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Avatar Image Moog
Lottery winnings are tax free, but you do pay tax on the interest earnt from your winnings
13:37 Thu 04th Mar 2004
Avatar Image BadBob
The tax is paid in the original �1 stake. You used to have to pay tax on bets at a betting shop but they got rid of this a year or so ago. Back then you could pay the tax up front on the stake or on the winnings. The prior was obviously the one to go for.
14:08 Thu 04th Mar 2004
Avatar Image apricot
Only tax free in the UK. I have heard that Lotto winners in the USA pay 50% tax on winnings.
00:16 Thu 11th Mar 2004

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