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Frank Hovis

Lotto Winner Loses £1M

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Bit of an odd story really.

Bloke gets given £1m by his brother after he wins £10m. Nice.

They don't bother to get in touch with him to thank him. Not nice.

Buys outright: house, flat, caravan and car for £384k combined. So actually home-owner rather than home-debtor.

Fritters away £500k (ok, not many of us here would do that but I'm sure they had a great a time).

Then is conned by fake facebook acount purporting to be his brother into losing £60k.

And the headline is:

Winner’s £1m brother is skint after being fleeced by Facebook fraudsters

Well, not thanking somebody who gives you £1m and then being conned out of the £60k you didn't blow means that when we hear:

A ROAD sweeper given £1million by his Lotto-winning brother five months ago is broke and £3,000 overdrawn — after being fleeced by fraudsters.

we are allowed a:

Nelson_Ha-Ha.jpg

http://www.thesun.co.uk/sol/homepage/news/4943536/Lotto-winners-1m-brother-is-skint-after-being-fleeced-by-Facebook-fraudsters.html

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A fool and his money...

For all the bitching and (justified) moaning about financial advisers, you do feel that sometimes they could certainly have been a help.

However, I guess when a lot of money goes to some previously eternally-skint head, it's likely they wouldn't want to listen to sensible advice anyway.

At least they got a paid-for house out of it.

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As an aside I have often wondered how the revenue would treat such a 'gift'.

Would it be treated as unearned income for the recipient?

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As an aside I have often wondered how the revenue would treat such a 'gift'.

Would it be treated as unearned income for the recipient?

My understanding is that there are no tax implications for the recipient. Where it gets sticky is for the donor. If they die within 7 years of making the gift, then the amount forms part of their estate and becomes liable for inheritance tax.

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I thought that. Watched the rather moving film 'Another Year' on the telly last night and their photos reminded me of the film. A positive outlook can bring its own luck, can broaden the range of experiences and ones propensity to grab any opportunities that may arise. And the whole lot is reflected in one's demeanour and facial expression. Fascinating.

But how does that work with a Lottery win? Perhaps one couple was in it to win it and the other wasn't because 'they wouldn't win'? And then to be so bitter or unthinking to not ring them (jealousy because it was 'only' £1m from £101m?) Could have cut their chances again.

I saw the same film and recalled this post today when reading about the retired couple who cut short their sailing holiday to claim £6m on the lottery. Didn't remember who wrote it though.

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My understanding is that there are no tax implications for the recipient. Where it gets sticky is for the donor. If they die within 7 years of making the gift, then the amount forms part of their estate and becomes liable for inheritance tax.

I thought the recipent pays the inheritance tax.

I've never checked this out, because I have no chance of inheriting anything.

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Obviously it's changed your life and you're now the owner of a s*****y home having lied on the mortgage app. B)

You're worth it.

EDIT s w a n k y

Rumbled.

Yes, my name is Ken and I'm a liar loan BTLer.

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The scammers then claimed Dave, of Walsoken, Norfolk, had been caught boozing and smoking in a public place in Dubai and needed cash to get out of jail on bail. Despite family members insisting Dave was in the UK, Denis sent £13,000.

The lies continued until Denis demanded to speak directly to his brother.He got a call from a man with a thick Nigerian accent who claimed to be Dave. But Denis still sent another £10,000 that day.

:lol::lol::lol:

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  • 259 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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