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Were the lotto winners mad to go so public?

[Deleted User]

I know if I should ever be so lucky as to have a major lottery win I couldn’t wait to share the news with those closest to me. However I would keep very quiet publicly about it, as I wouldn’t want to be forever more pestered by the both the somewhat needy and the downright greedy. That said I would most definitely be generously sharing my win, but at my own bidding. These winners from Tyrone seem very nice decent people, but for their own peace and safety sake, and the sake of their family, I cannot imagine what made them go out on a limb to publicize their win. Is it naivety?

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dxhound2005

DrPhilG wrote: »

Mental cases. If I won big money I'd tell my best friend and my wife. That's it.

My plan to retire secretly is..... A secret.

Ps imagine being number 51 on these eejit's top 50 list? You'd be gutted!

Your best friend would tell their friends, if it was as big as €130 million.

I predict that in a months time life will be as normal as they want it to be for the winners, just like the hundreds of other Euro millions winners. None of us is going to send them begging letters or turn up at their door. Nor will they suffer this fate from our fellow citizens for very long.

lolokeogh

they would know i won it,i would be driving around in a sports car wearing a crown and fur coat...:):):)

Andrew Beef

The trick is to push the envelope a little but to stay within the boundaries of what’s reasonable. Most people could buy a nice car on PCP, so buy a nice car. Move to a nicer house, but one that’s still reasonable for you to own. Personally, I’d keep working but over the subsequent year or so, I’d set up my own business. I wouldn’t dream of banking with a retail bank. I’d get myself a trusted lawyer from one of the big firms. I’d buy a small number of trophy investment properties, I’d keep around €10m in cash, and I’d invest a good chunk of it in a portfolio of shares.

El_Bee

the problem is it takes time to buy a new house especially a nice big one in an expensive area, you'd have to sit on your win and keep quiet for months until everything is set up and you can bounce, that's a long time to keep a secret.

lawred2

Did they not say that they were planning on making 50 family and friends millionaires?

Dakota Dan

El_Bee wrote: »

Yes, I don't know what the laws are in the UK, but here there's a 33% capital gains tax on gifts, so if you gave someone a million out of your winnings they only get 666k and the government takes their slice.

I’d say that they haven’t figured that out yet.

Wheety

I think I'd rather just give people enough to cover the tax bill too. If you get people to sign the ticket to avoid CGT, what's to stop one of them going to court for an equal share of your winnings?

Dakota Dan

Spanish Eyes wrote: »

You'd have to be sure your family wouldn't squeal though. Bit of a gamble there :P

Secrets are not secrets anymore if more than one person knows.

TheAnalyst_

It would be a laugh to go public and then constantly say no to people. Have them turn all nasty at you for saying no. I'd get a kick out of that for some reason. Friends and family as well.

asteroids over berlin

I am sure they had expert advice before going public, who knows what their plans are. The guy has his own business so obviously has a brain. If i ever accumulate such a sum of money, i would have a luxury property or 2 in Ireland but i see my life in sunnier lands surrounded by a simlar class odf rich w*****s - perhaps florida, St Tropez etc

Berserker

asteroids over berlin wrote: »

I am sure they had expert advice before going public, who knows what their plans are. The guy has his own business so obviously has a brain.

You get sent on a course in the UK when you win the lotto. One of the ladies who took part in RTE's 'I won the Lotto' spoke about it. I fear for these people, I really do. Their decision to go public makes no sense to me. Big difference between managing a small business and managing a huge lotto win, which is in the public forum. Every chancer under the sun knows who they are.

Dakota Dan

TommyGun2017 wrote: »

Can’t for the life of me why this couple went public with such a huge amount. There’s no clear advantage to doing so imo except being able to say fook you to the people ya don’t like. I imagine Camelot were delighted with all the publicity. If I remember correctly Dolores O Riordan hadn’t much choice in going public. She checked her ticket on Teletext in a pub in Limerick and the madness began

Dolores O’ Riordan? Wasn’t she the cranberry woman?

Andrew Beef

There is no tax on gifts in the UK.

Berserker

StereoSound wrote: »

I wouldnt go public, the under powers lay in waiting to target you.

Given the part of NI that they live, I'm sure that plenty of 'good republicans' will be offering them a variety of service.

DrPhilG

dxhound2005 wrote: »

Your best friend would tell their friends, if it was as big as €130 million.

He wouldn't. If I didn't know for sure that he wouldn't then I wouldn't tell him either.

dxhound2005

Berserker wrote: »

You get sent on a course in the UK when you win the lotto. One of the ladies who took part in RTE's 'I won the Lotto' spoke about it. I fear for these people, I really do. Their decision to go public makes no sense to me. Big difference between managing a small business and managing a huge lotto win, which is in the public forum. Every chancer under the sun knows who they are.

What do you think the chancers are going to do to them? There are tens of thousand of millionaires in Ireland, and millions of them in the UK. How many of them do you know who lost money to chancers.

antodeco

The whole CAT for their friends and family was a dumb move by them. If you know who you're going to give money to, become a "syndicate" and that way everyone is a winner, so tax free

dxhound2005

antodeco wrote: »

The whole CAT for their friends and family was a dumb move by them. If you know who you're going to give money to, become a "syndicate" and that way everyone is a winner, so tax free

Just like someone who claims that another person was driving their car to avoid penalty points, that could go badly wrong. They have already made clear that the ticket was bought online by themselves, with no mention of a syndicate. The taxman could challenge any tax avoidance scheme set up after the event.

Cork Boy 53

Dakota Dan wrote: »

Dolores O’ Riordan? Wasn’t she the cranberry woman?

The poster was obviously referring to Dolores McNamara.

antodeco

dxhound2005 wrote: »

Just like someone who claims that another person was driving their car to avoid penalty points, that could go badly wrong. They have already made clear that the ticket was bought online by themselves, with no mention of a syndicate. The taxman could challenge any tax avoidance scheme set up after the event.

Obviously I was talking about before going to win it as a couple. This is why you "win" it as a syndicate not as a couple. The risk with this is the others could claim equal share.

I know if I ever won, it would be my whole family who won it...

dxhound2005

DrPhilG wrote: »

He wouldn't. If I didn't know for sure that he wouldn't then I wouldn't tell him either.

Why would you want to tell him in the first place?

DrPhilG

dxhound2005 wrote: »

Why would you want to tell him in the first place?

Because he's my best friend?

dxhound2005

DrPhilG wrote: »

Because he's my best friend?

Do you think he would be OK to know that you had €130 million and be sworn to secrecy? Have you thought about what that might do to him?

DrPhilG

dxhound2005 wrote: »

Do you think he would be OK to know that you had €130 million and be sworn to secrecy? Have you thought about what that might do to him?

It wouldn't do a damn thing to him, lol. He's not that fragile.

Look everyone is different but the point is that I know him inside and out and I know he would be fine with keeping such a secret. We have quite happily held each others deepest darkest secrets for 25 years without losing our marbles or spilling the beans.

Andrew Beef

antodeco wrote: »

The whole CAT for their friends and family was a dumb move by them. If you know who you're going to give money to, become a "syndicate" and that way everyone is a winner, so tax free

I’ll say it again...there is no gift tax in the UK

Ubbquittious

How do you actually get paid if you win the 130m? Can you just lodge the cheque into your permanent tsb current account or does it have a maximum capacity?

Your freedom to walk into any shop or pub as a relatively anonymous nobody isn't something you can easily get back once it's gone.

dxhound2005

DrPhilG wrote: »

It wouldn't do a damn thing to him, lol. He's not that fragile.

Look everyone is different but the point is that I know him inside and out and I know he would be fine with keeping such a secret. We have quite happily held each others deepest darkest secrets for 25 years without losing our marbles or spilling the beans.

Everyone is different. The next people to know that you were worth €130 million are those who inherit it when you die. In your lifetime it will be only you, your wife and your friend. Certainly different than what I would do.

McDermotX

Some answers here around gifting money

https://www.money.co.uk/guides/how-do-i-gift-money-without-being-taxed.htm

Long story short, the UK government will get some dough down the line (and they'll probably need it after Brexit), if there is not some circuitous pathwork done.

Of course, you'll have the money to get people to find these paths for you.

mikemac2

twowheelsonly wrote: »

I worked in a Cork City Centre shop a few years ago and one morning a rumour went around that my boss at the time had won €3m the night before. It was incredible. His son rang him at about 9:15 (from Dublin) to tell him that he had heard about his luck and all day long people were coming in 'for a chat' and 'wishing him well'. Friends, Nuns, Charity workers, you name it. It was funny that morning but by the evening the joke had worn fairly thin. By that time he had easily gotten 200 visitors, with about half of them being blunt enough to ask him straight out to help out with some charity / cause / personal difficulty. As I say, it was incredible to watch.

Don’t leave us hanging! Was the rumour true, did your boss win?

mikemac2

lotsobear wrote: »

Anyone who thinks that the staff in your local bank wouldn't notice a sudden change in your finances and gossip is has green.

lotsobear wrote: »

But "Bridget" the bank assistant see's your accounts and lodgements. If you pay yourself a weekly or monthly was from your lump sum it will be spotted

Well Dublin HQ would have stepped in immediately before your local branch even knew. The GAA county star in bank sales will be first at your door looking to flog some product

Bridget needs sacking and if she is gossiping around the town about the lotto winner she’s probably done that also for the newlywed couple with a ridiculous 30k wedding loan and farmer in trouble

If I knew a Bridget who was desperate to tell me of a local lotto winner I’d be wondering what she was saying about me behind my back grrrrr