Donate SIGN UP

Lottery Winnings

Avatar Image
Hopkirk | 14:12 Thu 10th Jun 2010 | ChatterBank
25 Answers
Will I have to pay tax on my lottery winnings?
Gravatar

Answers

21 to 25 of 25rss feed

First Previous 1 2

Best Answer

No best answer has yet been selected by Hopkirk. Once a best answer has been selected, it will be shown here.

For more on marking an answer as the "Best Answer", please visit our FAQ.
If it's not taxable they won't bother will they?

Although I must admit they are pretty useless. I told them years ago that I was no longer self employed. Since then I have moved....and they sent me a self assessment reminder to this address...!!
No, but you'd have to share your winnings with Randall
oh can you see him too joe?
A Lottery jackpot is tax free.

If you win a yearly paymeny, it is treated as income, and is taxable.

So, if you work really, really hard, and earn £25,000 ... you get taxed.

If you buy a £1 ticket, and scoop £10,000,000 ... no tax.

It's all quite ... erm ... "logical"
Question Author
Randall won't know!

21 to 25 of 25rss feed

First Previous 1 2

Do you know the answer?

Lottery Winnings

Answer Question >>