To be honest, in EU most things are taxable. Most EU countries will tax you on your lottery winnings, which to me is just weird and unacceptable,but this is how things work here.
The trick is to know when the tax needs to be paid and what it needs to be paid on.
This is why accountants are important. They know the system and paperwork and words; they know how you can pay tax in one form cheaper and later instead of expensive and now.
I believe you've got it backwards. The EU countries that don't tax lottery winnings are actually members of a pretty small club. Most of the world does tax lottery winnings.
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To be honest, in EU most things are taxable. Most EU countries will tax you on your lottery winnings, which to me is just weird and unacceptable,but this is how things work here.
The trick is to know when the tax needs to be paid and what it needs to be paid on.
This is why accountants are important. They know the system and paperwork and words; they know how you can pay tax in one form cheaper and later instead of expensive and now.
I don't think UK taxes lottery winnings.
link showing DanBC is indeed correct (http://www.national-lottery.co.uk/player/p/help/playinginsto...)
though UK lottery winnings will still be taken into account for inheritance tax if the winner dies within 7 years.
that's for parents safety
Yeah I know UK doesn't, that's why I said "most" EU countries, and not all of them.
I believe you've got it backwards. The EU countries that don't tax lottery winnings are actually members of a pretty small club. Most of the world does tax lottery winnings.