EuroMillons jackpot winners gave away half of £115 million fortune

Comment #9

KY Floyd — Sun, 20 Dec 2020 04:28:55 GMT

Feel free to share your misunderstanding about what would make it impossible to give away a lot of money without having to pay taxes on it.

Comment #8

Teddi — Sat, 19 Dec 2020 09:07:39 GMT

Only if he gave it to institutions or paid off tax exempt bills. There is no way he could give away the money in the manner of this couple without incurring additional taxes, that's just a fact, which is why no one in the US gives money like this, we don't have the tax laws to allow for this without penalizing the giver. In the US, this type of giveaway would exceed their maximum lifetime gift allowance, and the fact that they did it in only 2 years means that they didn't stagger any of the year... [ More ]

Comment #7

Bleudog101 — Sun, 13 Dec 2020 16:00:03 GMT

These folks and their wonderful charitable lifestyle goes down on #1 for my all time favorite story.

Paying it forward doesn't seem a good enough description of them, they are just genuinely good, down to Earth people.

Comment #6

hearsetrax — Thu, 10 Dec 2020 09:52:06 GMT

great story to wake up to

not sure I would or could be that generous though

but what ever makes them happy

Comment #5

KY Floyd — Thu, 10 Dec 2020 06:20:34 GMT

Anyone trying to give away this much this quickly would get a nice little bill from the IRS.

He would have to pay tax on the capital gains income first, but after that Jeff Bezos could give away every penny he has in 5 minutes without incurring any tax liability. It just depends on what you give people.

Comment #4

HaveABall — Thu, 10 Dec 2020 04:39:00 GMT

I'm glad that these two winning folks decided to share with friends and family too. They probably wouldn't have gotten considerable money for home ownership through a charity.

I'm glad this couple bought a bigger home than a bungalow. A very wealthy person's home should be big enough to have some fun stuff inside and outside it.

Cheers

Comment #3

Technut — Thu, 10 Dec 2020 02:12:50 GMT

yea uncle sam will do whatever it takes to rake in cash.

Comment #2

Teddi — Thu, 10 Dec 2020 01:58:20 GMT

One of the best winner's stories I've read...ever. It's still early days but I hope their good fortune and surprisingly ungreedy friends/family relationships continue.

Based on this article I'm guessing that the UK doesn't have caps on monetary gifts the way the US does. Anyone trying to give away this much this quickly would get a nice little bill from the IRS.

Comment #1

Technut — Wed, 09 Dec 2020 21:33:18 GMT

Wonderful story. Glad they are enjoying life now.

EuroMillons jackpot winners gave away half of £115 million fortune

Lottery Post — Wed, 09 Dec 2020 21:24:11 GMT

Couple who won jackpot in 2019 have already given 60 million to charities, friends, and family

By Kate Northrop

In just nearly two years, an English couple who won a 114.9 million (US$153.7 million) EuroMillions jackpot, the fourth largest awarded by the UK National Lottery since its inception, have already given away half of their winnings to friends, family and charities.

Frances, 54, and her husband, Patrick Connolly, 56, found out that they won the massive prize on New Year's Day in... [ More ]