Lottery win,treating friends, avoiding the tax man.Possible?
Discussion
I bought my EuroMillions tickets earlier for tonight's draw and as usual went into my post hour fantasising phase which got me thinking.
Say for arguments sake you win a large amount and wanted to give a mate £1million how could you do that without any tax being paid on it?
Im under the impression i just cant transfer that amount and not expect any tax to be deducted from it (unless im wrong) so how about something along the lines of.....buy a £1million car (zonda,veyron etc), give it to them as a birthday present and then get them to sell it back to you for the £1million. Would they then have to pay tax on that?
Ridiculous thread i know but the advice may come in handy one day
Say for arguments sake you win a large amount and wanted to give a mate £1million how could you do that without any tax being paid on it?
Im under the impression i just cant transfer that amount and not expect any tax to be deducted from it (unless im wrong) so how about something along the lines of.....buy a £1million car (zonda,veyron etc), give it to them as a birthday present and then get them to sell it back to you for the £1million. Would they then have to pay tax on that?
Ridiculous thread i know but the advice may come in handy one day
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