Donate SIGN UP
Home > How it Works > Lottery

Lottery

Avatar Image
PaulB | 13:44 Thu 04th Mar 2004 | How it Works
3 Answers
If someone wins 3million on the lottery, how much tax would they have to pay on that?
prev Where does he stand?
  
next fridges
Gravatar

Answers

1 to 3 of 3rss feed

Best Answer

No best answer has yet been selected by PaulB. 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.
Avatar Image Moog
Lottery winnings are tax free, but you do pay tax on the interest earnt from your winnings
14:37 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.
15:08 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.
01:16 Thu 11th Mar 2004

1 to 3 of 3rss feed

Do you know the answer?

Lottery

Answer Question >>