Euromillions €210 million

Irishphotodesk · 26-02-2021 10:47am

Conall Cernach wrote: »

I've never been to Luxembourg but I holiday in Zermatt, Switzerland every year and that's where I'd head to. It's expensive but no one cares how much money you have and 210 million is small change to a lot of people there.

Did a weekend tour of Luxembourg a few years ago, thanks to luxair and the government, lovely country - well worth a visit, can't say what it's like to live there but it is quite small, so people will know people and word will spread - depending on the story that you put out.

carltonleon · 26-02-2021 11:11am

hhmmm? wrote: »

If I win this money tomorrow I will go on national TV and make it known that I will not spend one cent of it in this country. I will see to it that this jackpot pays no tax to this government, a government that has let me and my fellow people down does not disserve to benefit from my windfall.

But if you go on tv to make that broadcast, surely that will cost you money to do 😂

murpho999 · 26-02-2021 11:23am

AndrewJRenko wrote: »

If you lie when declaring your syndicate, claiming existence of a syndicate that never existed, Revenue can come after you.

What are you on about? Two people can form a syndicate within seconds.

If 2 people share the cost of a ticket and win they don't have to have a formal syndicate agreement drawn up.

Also, I don't think revenue is really looking at this stuff. Bigger fish to fry.

startrek56 · 26-02-2021 11:27am

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...

startrek56 · 26-02-2021 11:31am

four seasons resort in costa rica would be nice for a few months, until it all dies down

26-02-2021 11:33am

murpho999 wrote: »

What are you on about? Two people can form a syndicate within seconds.

If 2 people share the cost of a ticket and win they don't have to have a formal syndicate agreement drawn up.

Also, I don't think revenue is really looking at this stuff. Bigger fish to fry.

I think Andrew is one of those guys who will argue his original position no matter what. You are right. The syndicate is created by signing the tickets even if there was no other written agreement. Then people on the ticket sign the claim form.

Agreements can often be verbal prior to the win. So what exactly are revenue going after?

26-02-2021 11:35am

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...

So you're advocating tax evasion? OK...

murpho999 · 26-02-2021 11:42am

Deleted User wrote: »

I think Andrew is one of those guys who will argue his original position no matter what. You are right. The syndicate is created by signing the tickets even if there was no other written agreement. Then people on the ticket sign the claim form.

Agreements can often be verbal prior to the win. So what exactly are revenue going after?

Yes but as stated before this signed ticket thing is dated nowadays as you can buy a ticket online via desktop or app.

It's the claim form that you mention is key. You have to collect in person so all the people who are part of the syndicate just go together and collect winnings and declare themselves winners and that's it.

There's no need for formal legalisation of a syndicate as Andrew claims.

US2 · 26-02-2021 11:45am

Buying a ticket is like buying a dream really. Even if I don't win i have a few hours of the nicest daydreams imaginable. Worth 3.5 quid for that alone

startrek56 · 26-02-2021 12:03pm

Student_111 wrote: »

So you're advocating tax evasion? OK...

i will build things for the community to offset it...

i mean, who wants to pay that much tax on things anyway for helping out a few friends who will spend money in the economy anyway!!

SEPT 23 1989 · 26-02-2021 12:19pm

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 · 26-02-2021 12:34pm

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 · 26-02-2021 12:48pm

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 · 26-02-2021 12:53pm

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.

26-02-2021 2:22pm

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 · 26-02-2021 2:24pm

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

murpho999 · 26-02-2021 2:31pm

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 · 26-02-2021 3:00pm

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 · 26-02-2021 3:38pm

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 · 26-02-2021 3:41pm

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 · 26-02-2021 3:43pm

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 · 26-02-2021 4:19pm

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 · 26-02-2021 4:20pm

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?

26-02-2021 4:30pm

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 · 26-02-2021 4:50pm

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 · 26-02-2021 5:12pm

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 · 26-02-2021 5:14pm

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.

26-02-2021 5:16pm

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 · 26-02-2021 5:29pm

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 · 26-02-2021 6:02pm

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 · 26-02-2021 6:03pm

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 · 26-02-2021 6:08pm

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 · 26-02-2021 6:12pm

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.

26-02-2021 6:39pm

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 · 26-02-2021 6:43pm

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 · 26-02-2021 6:56pm

A huge amount of money there

Allinall · 26-02-2021 7:18pm

[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 · 26-02-2021 7:35pm

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 · 26-02-2021 7:52pm

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 · 26-02-2021 8:00pm

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.

snowgal · 26-02-2021 8:13pm

Rocko wrote: »

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

it could be you!!!

Capt'n Midnight · 26-02-2021 9:03pm

Yurt! wrote: »

Now that's a Bond villain move.

*Darth Vader voice*

"So-called government and sheeple of Ireland. You have failed your son. My revenge is a cunning a devious one - I shall take my many tax-free millions, get on an airplane to ANOTHER COUNTRY and buy stuff there. Mwahahahahaha!"

*Gets stopped at checkpoint outside Dublin Airport*

"Sh*t"

You won't get stopped outside the Airport

If you enter or leave the EU with € 10 000 or more in cash, you must declare it to Customs.

In the event of false, inaccurate or incomplete information, the signatory will be considered not to have fulfilled the above obligation
and is liable to penalties or have cash detained or confiscated by the competent authorities under Regulation (EC) No 1889/2005,
article 3 (1) and 9(1).

dxhound2005 · 26-02-2021 9:23pm

Some people have more money than they need

Over €90m in unclaimed prizes has now been returned to Premier Lotteries Ireland (PLI) since it took over the licence to operate the National Lottery in November 2014.

There is over €300 million worth of old money out there which was never changed into Euro. And many multiples of €210 million is rotting away in dormant accounts, never to be spent.

Irishphotodesk · 26-02-2021 9:30pm

sugarman wrote: »

You wouldn't be put out by losing over €1m a year to a financial institution?

Over a lifetime that could be €50-60m, surely there would be better ways to piss away over a quarter of your winnings than that!

Im sure anyone with that level of money will be loosing bits and pieces constantly, but as long as it is used to generate income the money could/should last for multiple generations.

frozenfrozen · 26-02-2021 10:01pm

Swiss winner

micar · 26-02-2021 10:11pm

frozenfrozen wrote: »

Swiss winner

Feck it.....feck it anyway

Harry Palmr · 26-02-2021 10:12pm

Probably some banker who's been living off Nazi gold.

yerwanthere123 · 26-02-2021 10:17pm

frozenfrozen wrote: »

Swiss winner

Fúck em. Was sure tonight would be my night.

Quantum Erasure · 26-02-2021 10:29pm

whisky_galore wrote: »

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'.

If you're not in you can't win,

Yurt2 · 26-02-2021 10:30pm

Probably JP McManus in his Alpine retreat.

Euromillions €210 million

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