£201 million jackpot on the Euromillions tonight!

[MingtheMerciless]

Gift Tax has been mooted since 2019. It was raised by the IPPR. £125,000 lifetime limit.

https://www.griffinsfinancial.co.uk/blo ... itance-tax

I actually blew £12.50 on t'Euromillions last Friday. Needless to say, there will be no 'RTTL Festival of Panigales' - not a sniff of a prize.

It's OK, I'd settle for the new 698 Supermoto.

[Count Steer]

Gift Tax has been mooted since 2019. It was raised by the IPPR. £125,000 lifetime limit.

https://www.griffinsfinancial.co.uk/blo ... itance-tax

I actually blew £12.50 on t'Euromillions last Friday. Needless to say, there will be no 'RTTL Festival of Panigales' - not a sniff of a prize.

It's OK, I'd settle for the new 698 Supermoto.

I'll get it gift-wrapped. (You'll still have enough gift tax headroom for when I send the Panigale ).

[ZRX61]

Gift Tax has been mooted since 2019. It was raised by the IPPR. £125,000 lifetime limit.

https://www.griffinsfinancial.co.uk/blo ... itance-tax

I actually blew £12.50 on t'Euromillions last Friday. Needless to say, there will be no 'RTTL Festival of Panigales' - not a sniff of a prize.

Just make the gift a *loan* & then forget to collect on it. Seems to work for the Bidens.

Getting back to the lottery:
Do you guys also get to play EuroJackpot?

Meanwhile the Powerball here is now $760Million, but will likely jump a bit before tomorrow nights draw.
$241,012,045 if you take the cash option & after Fed taxes, (in California). If you live in NY it's a mere $199,319,545

[ZRX61]

Buggery bollocks. Some ratbastard in Michgan won $842,400,000 last night. ($249,846,812 cash, after taxes etc. $496,164,369 if they take the 30 year annuity option)

[mangocrazy]

Buggery bollocks. Some ratbastard in Michgan won $842,400,000 last night. ($249,846,812 cash, after taxes etc. $496,164,369 if they take the 30 year annuity option)

The state takes a $592,553,188 cut? ! ? !

[ZRX61]

Buggery bollocks. Some ratbastard in Michgan won $842,400,000 last night. ($249,846,812 cash, after taxes etc. $496,164,369 if they take the 30 year annuity option)

The state takes a $592,553,188 cut? ! ? !

No, the $842M is a projection based on investing the money they have on hand from sales over the next 30 years, which was $425M in this case. My State doesn't tax lottery wins so you're only on the hook for Fed taxes at 37%. They withhold 24% before sending you the cash & then the winner is on the hook for the further 13% in April. This means last nights prize would have seen you getting $323M in California & forking over the about $54M in April. This is assuming you don't create a charitable foundation etc to cut the tax you pay.

It's all laid out by State here:

https://www.usamega.com/powerball/jackpot/2024/1/1

Ferinstance, if the winner lived in NY they would take home $221,571,012 cash (because they're fucking idiots for living in NY & pay State taxes on top of the Fed taxes) instead of the $267,917,812 a California winner would get.

[mangocrazy]

Good grief. And I thought UK tax law was complicated.

[Count Steer]

Good grief. And I thought UK tax law was complicated.

UK tax law:

'How much money have you got?'
'Give it us'.

[Mr. Dazzle]

At least you don't live in Washington DC.

[Greenman]

It's been mooted but apparently now it's a thing.
It will be massively more damaging to anyone that intends trying to help their loved ones out than IHT was.

Surprising that the multi-millionaire Starmer and Rachael Reeves with her multiple homes are up for this, but I hear it's on the cards.

It won't apply to anyone with £1m+ in the bank i suspect.

[ZRX61]

At least you don't live in Washington DC.

All of us furriners in the US are taxed without representation..

[KungFooBob]

£111m on the Euro tonight.

It's not 200 like last time so you you'll have to put up with V2 Panigales rather than V4's.

[Pirahna]

I've bought 3 tickets.

[MingtheMerciless]

https://www.controlleremea.co.uk/listin ... y-aircraft

Mine......(assuming I win)

[KungFooBob]

https://www.controlleremea.co.uk/listin ... y-aircraft

Mine......(assuming I win)

I have a similar plan. I want a Buccaneer for static display. In fact I just want lots of land to put a load of cold war British jets on... or I might try and buy Newark Air Museum.

[Pirahna]

https://www.controlleremea.co.uk/listin ... y-aircraft

Mine......(assuming I win)

There's some very nice stuff for sale on that site.

[Pirahna]

https://www.controlleremea.co.uk/listin ... y-aircraft

Mine......(assuming I win)

I have a similar plan. I want a Buccaneer for static display. In fact I just want lots of land to put a load of cold war British jets on... or I might try and buy Newark Air Museum.

https://www.controlleremea.co.uk/listin ... y-aircraft

[KungFooBob]

https://www.controlleremea.co.uk/listin ... y-aircraft

Mine......(assuming I win)

I have a similar plan. I want a Buccaneer for static display. In fact I just want lots of land to put a load of cold war British jets on... or I might try and buy Newark Air Museum.

https://www.controlleremea.co.uk/listin ... y-aircraft

The Swiss kept Vampires in service will into the 80's iirc.

[ZRX61]

https://www.controlleremea.co.uk/listin ... y-aircraft

Mine......(assuming I win)

I know the people who worked on that Resto. At one point the price was $4.5M. There's still the issues of the FAA allowing it to fly & sourcing about $2M for engines.

[ZRX61]

$285M here tonight, cash option is $135M which gives you $85M after Fed taxes (37%).

I think I could scrape by...