You win or inherit £1.5m, what do you do?

[Roaring Chubby]

What, even your missus?

She loves her job, no way she would pack in.

 

[Mackem00]

I've another 20 years till retirement but could/would retire tomorrow if I won £300k let alone £1.5M. Hopefully one of the £300k top prize scratchcards that I buy once a week might come in.....

Funny things scratch cards. Surely you could be buying it when the top prizes have already been won? Basically entering a competition that has already finished. (I know there's lesser prizes still available).

 

[Dave Herbal]

I've another 20 years till retirement but could/would retire tomorrow if I won £300k let alone £1.5M. Hopefully one of the £300k top prize scratchcards that I buy once a week might come in.....

I just want to get back on the property ladder instead of paying someone else’s mortgage off.

 

[Dauntless Dive Bomber]

Funny things scratch cards. Surely you could be buying it when the top prizes have already been won? Basically entering a competition that has already finished. (I know there's lesser prizes still available).

Only £2 a week so I won't worry about it too much

 

[Mackem00]

Only £2 a week so I won't worry about it too much

I buy them narl like tbf.

 

[admwil]

Just buy a nice house outright, set some aside for the kids futures and set up a small business doing something I enjoy.

 

[cornish mackem]

Only if you pop your clogs within 7 years.

The tax man would have got his bit before you got any inheritance.
Winnings are tax free too

 

[buster]

The tax man would have got his bit before you got any inheritance.
Winnings are tax free too

I think you’re missing the point I was making.

You ( the winner ) can gift as much money as you like , but if you ( the winner ) pop your clogs within seven years , the money you have gifted is added back to your estate for IHT calculations , in effect the estate would be worth less after taxes due are paid.

A bit clearer for you ?

 

[cornish mackem]

I think you’re missing the point I was making.

You ( the winner ) can gift as much money as you like , but if you ( the winner ) pop your clogs within seven years , the money you have gifted is added back to your estate for IHT calculations , in effect the estate would be worth less after taxes due are paid.

A bit clearer for you ?

Thanks
£3k without questions or reclaim. Don’t know if that’s per person or in total

 

[Jersey_Mackem]

I would give it to @Jersey_Mackem

 

[JGC]

Stick it all on Black.

 

[Fetch Fletch]

Does Around post on here?