Euromillions €210 million

SEPT 23 1989

startrek56 wrote: »

i know you can give someone 3k without it being taxed, but you could easily give someone 20k a year without anyone knowing if you just handed them over cash..

2 grand a month cash, let them spend it on shopping, new clothes, save it up for a car etc...

they cant put any of it into the bank to save

and they cant have things that their earnings could not cover

startrek56

SEPT 23 1989 wrote: »

they cant put any of it into the bank to save

and they cant have things that their earnings could not cover

won it on the horses down at the track

20k over a year isnt much anyway, just pay the mortgage or rent with cash... nice clothes with cash as well

charlietheminxx

Thanks to this thread I've spent ages daydreaming about giving all my friends a million euro and buying a BMW i8. I know it will never happen, but it was nice to daydream about.

dxhound2005

Louis Friend wrote: »

1) Engage a private client tax or legal specialist from a large firm
2) Get them to collect your winnings as your nominee
3) Lodge the money outside of Ireland following advice from the above specialist
4) Tell no one other than your spouse
5) Don’t ramp-up your lifestyle massively; pay off your mortgage, change your cars for something nice, but not too nice, and blame PCP if asked
6) Take investment advice from a large reputable firm, but not one in Ireland
7) Invest in some businesses which can do okay and explain the uplift in your wealth; essentially ‘launder’ some of your winnings from a perception perspective

You are involving far too many people there for a €210 million win to remain secret. And I would hate someone to tell me they have €210 million but I have to keep that secret for the rest of my life.

The only safe thing to do is tell nobody, don't change your lifestyle, and let everyone find out about the money when you die.

That is if you believe the nonsense about bad things happening to people who go public.

dxhound2005

dxhound2005 wrote: »

It probably would have escaped noticed if the stepson hadn't brought the court case. I mentioned that scenario earlier.

Revenue will get their cut eventually from any fraud, with Inheritance Tax.

The stepson won his case. The judge accepted that as a co-signee he was part owner.

https://www.irishtimes.com/news/crime-and-law/courts/woman-and-stepson-resolve-row-over-share-of-3-3m-lotto-jackpot-1.3582192?mode=amp

The question of tax seems to be only related to the actual gift the step mother promised - that is 200k. Or a house.

as Ms Walsh says she gave her stepson a choice between a house or a €200,000 share in the massive win.

Apparently she is arguing that the lottery had said that to make those particular gifts tax free she should ask the stepson (and others) to sign the ticket. I bet she misunderstood the instructions or maybe the lottery did mislead. She wanted to gain tax exemption on future gifts not to hand over part of the winnings. She tried to sue the lottery but that company is defunct now, so she couldn’t.

https://www.irishtimes.com/news/crime-and-law/courts/high-court/lotto-winner-sued-by-stepson-cannot-sue-former-lottery-operator-1.4384958?mode=amp

Rocko

With all this chat here. I had to go buy a ticket for tonite!!

murpho999

Louis Friend wrote: »

1) Engage a private client tax or legal specialist from a large firm
2) Get them to collect your winnings as your nominee
3) Lodge the money outside of Ireland following advice from the above specialist
4) Tell no one other than your spouse
5) Don’t ramp-up your lifestyle massively; pay off your mortgage, change your cars for something nice, but not too nice, and blame PCP if asked
6) Take investment advice from a large reputable firm, but not one in Ireland
7) Invest in some businesses which can do okay and explain the uplift in your wealth; essentially ‘launder’ some of your winnings from a perception perspective

Do you really think you can just lodge €200m into a foreign account and it won't raise questions.

There are strict rules in place about transfer of funds abroad.

startrek56

murpho999 wrote: »

Do you really think you can just lodge €200m into a foreign account and it won't raise questions.

There are strict rules in place about transfer of funds abroad.

its the euromillions so surely its up to you were you put it? also, dont the lotto recommend using a foreign bank account if you wish to stay anonymous after winning that big of an amount?

Irishphotodesk

Rocko wrote: »

With all this chat here. I had to go buy a ticket for tonite!!

if its won tonight will most likely be spain (wild guess but its usually either Ireland or Spain that we hear about).

on a side note:
Can people in England still play it? or are they out out ? does the same apply for the north ?

back on topic, I don't think I will continue to post here if successful - although I doubt by €7 quick pick ticket will be successful.

murpho999

startrek56 wrote: »

its the euromillions so surely its up to you were you put it? also, dont the lotto recommend using a foreign bank account if you wish to stay anonymous after winning that big of an amount?

You're being paid out by the Irish Lottery.

There's strict rules about money being taken out of the country.

frozenfrozen

be interesting to read the stuff they send you when you win big. Must be a document with the likes of 'here are some phone numbers for solicitors who deal with this sort of thing'

here is how we recommend you go about claiming it if you wish to remain anonymous...

'here is the cocobolo table we recommend for the meeting room on your super yacht'

Irishphotodesk

frozenfrozen wrote: »

be interesting to read the stuff they send you when you win big. Must be a document with the likes of 'here are some phone numbers for solicitors who deal with this sort of thing'

here is how we recommend you go about claiming it if you wish to remain anonymous...

'here is the cocobolo table we recommend for the meeting room on your super yacht'

its more of .... here's the financial advisor from the local bank, they have a specific team in Bank of Ireland nearby for advising lottery winners.

Yurt2

Who you deposit with would be a huge decision. I'd probably get spooked dealing with an Irish bank; to Switzerland or Singapore for my banking needs however I'd engineer it. I'd want to be dealing with a sober and conservative banker, not some yahoo who nearly brought the country down a decade ago.

It's an interesting thought though, you'd perhaps instantly be in the top 40/50 wealthiest people in the country (higher even?) - do Irish people that wealthy really having significant banking dealings with mainstreet Irish retail banks? You'd be a blue whale to them, and are they really all that adept at managing wealth that large for clients?

murpho999

murpho999 wrote: »

You're being paid out by the Irish Lottery.

There's strict rules about money being taken out of the country.

It’s been paid from abroad, from the lottery, not transferred from a personal account. A bank account would have to be set up alright.

dxhound2005

Irishphotodesk wrote: »

if its won tonight will most likely be spain (wild guess but its usually either Ireland or Spain that we hear about).

on a side note:
Can people in England still play it? or are they out out ? does the same apply for the north ?

back on topic, I don't think I will continue to post here if successful - although I doubt by €7 quick pick ticket will be successful.

It's nothing to do with the EU, so the UK is still in. Switzerland is in it too. The draws take place in Paris.

murpho999

Deleted User wrote: »

It’s been paid from abroad, from the lottery, not transferred from a personal account. A bank account would have to be set up alright.

No. In the past winners had to wait a few days to get their funds as moneys had to be transferred to the Irish lotto and they then do the payout so it's not being or has ever been paid from abroad.

Either way, it's not that easy to set up an account abroad and then lodge €200m to it without questions being asked.

murpho999

Irishphotodesk wrote: »

if its won tonight will most likely be spain (wild guess but its usually either Ireland or Spain that we hear about).

on a side note:
Can people in England still play it? or are they out out ? does the same apply for the north ?

back on topic, I don't think I will continue to post here if successful - although I doubt by €7 quick pick ticket will be successful.

Why do people think Brexit would affect this?
People wonder if Britain is still in the Euros football or Eurovision song contest.

Not everything in Europe is about the EU.

murpho999

murpho999 wrote: »

No. In the past winners had to wait a few days to get their funds as moneys had to be transferred to the Irish lotto and they then do the payout so it's not being or has ever been paid from abroad.

Either way, it's not that easy to set up an account abroad and then lodge €200m to it without questions being asked.

You sure about that? Seems inefficient.

What questions would be asked?

Q: where did that money come from?
A: lottery.
Q: grand so.

There going to be a financial advisor doing this anyway. They would want the association with a multi millionaire.

Man Vs ManUre

So if you win the 210 million and head into lotto hq to start off the proceedings for getting it, will they give you a bit of spare change eg few hundred grand to keep you going in your new lifestyle till the winnings is finalised??

ToxicPaddy

Man Vs ManUre wrote: »

So if you win the 210 million and head into lotto hq to start off the proceedings for getting it, will they give you a bit of spare change eg few hundred grand to keep you going in your new lifestyle till the winnings is finalised??

Unlikely, but I'm sure your friendly bank manager would be licking his lips at the thought of €210 million cheque being lodged into his bank so he would extend you some credit as long as you prove you have actually won.

US2

Imagine being really broke like me and winning it. Wouldn't have a cent to celebrate with untill the transfer went through. It'd be a long 2 weeks

irish_goat

US2 wrote: »

Imagine being really broke like me and winning it. Wouldn't have a cent to celebrate with untill the transfer went through. It'd be a long 2 weeks

It takes 48 hrs according to the UK lotto. You could always get a payday loan to buy the champagne too.

Allinall

ToxicPaddy wrote: »

Unlikely, but I'm sure your friendly bank manager would be licking his lips at the thought of €210 million cheque being lodged into his bank so he would extend you some credit as long as you prove you have actually won.

Not nowadays.

Banks don’t want deposits. Hence negative interest rates.

Allinall

Allinall wrote: »

Not nowadays.

Banks don’t want deposits. Hence negative interest rates.

Yes it’s a cost to them. Although I suppose negative interest rates make money.

Itssoeasy

I’ve done it for tonight because if you’re not in you can’t win as they say. In saying that I’ve a better chance of getting the shift off of Angelina jolie than I have of winning a lottery of any kind. I’m in a syndicate as well but we’ve never won anything of note.

branie2

A huge amount of money there

Allinall

[Deleted User] wrote: »

Yes it’s a cost to them. Although I suppose negative I Teresa rates make money.

AIB have started charging large depositors .5% interest.

Your €220m would reduce by €20,000 every week, without you spending a penny.

Yurt2

Allinall wrote: »

AIB have started charging large depositors .5% interest.

Your €220m would reduce by €20,000 every week, without you spending a penny.

One wonders what a wealth manager would advise you to do. The stock market is looking funny with low-interest rate money sloshing around, asset prices are going into a super cycle, property is unpredictable in the economy as it stands.

Where's a safe resting place for your money away from atrophying in an account in negative interest rates?

whisky_galore

I really couldn't give a fvck about lottery what-If-I-won wankery, I never enter these things. I don't know why lottery wins are even 'news'.

Irishphotodesk

Allinall wrote: »

AIB have started charging large depositors .5% interest.

Your €220m would reduce by €20,000 every week, without you spending a penny.

If I owned €220,000,000 I don’t think I would be too put out by loosing 20k a week, chances are I would possibly be spending that amount myself as well.