|Posted: March 17, 2015, 1:41 am - IP Logged|
With the UK Lottery, you can have your cake and eat it!
Are my winnings tax free?
Yes, UK National Lottery prizes are not chargeable gains for the purposes of UK Capital Gains Tax and will not normally be assessed for UK Income Tax. If a prize is won and shared by a syndicate who entered into a written agreement before the win, then syndicate members should not be liable to pay UK inheritance tax.
One of the most important decisions for new winners to make is whether to opt to go public or remain anonymous. If a winner decides to talk publicly about their win, Camelot’s PR team will organise a press conference and handle all media interest on their behalf, removing the anxiety that can accompany talking about a big win.
If they have requested to remain anonymous, Camelot takes its obligations and duty of care to protect winners’ privacy very seriously. Unless a winner agrees to take full publicity and signs an agreement to that effect, no information about them can be released by Camelot into the public domain.
Most UK Lottery Winners choose to remain anonymous!
We all get a lot out of lotteries!