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?
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?
Comment