Best way to give someone a lump sum of cash?
- Thread starter asim
- Start date
Soldato
I think you should approach this from a trial and error angle. You can repeatedly give me lots of money and I can report back to you on which was the best.
You can reach me here:
[email protected]
You can reach me here:
[email protected]
Soldato
Just Bank Transfer it.
Soldato
One of those big cheques that they give lottery winners!
Associate
Get a dog called Pablo, hide the money in his chest.
Associate
I've wondered that, say you won the £50m last night on the lottery and wanted to give £1m to a friend or whatever, how would you go about it? Cheque? I imagine you would not be able to bank transfer that much?
Do you have to pay tax on it or anything?
Not that I've ever won anything just curious
I've wondered that, say you won the £50m last night on the lottery and wanted to give £1m to a friend or whatever, how would you go about it? Cheque? I imagine you would not be able to bank transfer that much?
Do you have to pay tax on it or anything?
Not that I've ever won anything just curious
Do you have to pay tax on lottery wins? No.
The person you're giving a gift to may have to though? I seem to remember there's a tax on giving money as a gift once it gets over a certain amount. Can't remember where I heard that though, may not be true.
Soldato
- Joined
- 29 Jul 2004
- Posts
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The question is just as stupid as the replys.
Oh nos how do i gif someone monies.
Er hand it to them in cash or transfer it to their bank? How hard can it be?
Associate
e-peen enlargement hidden behind a spurious question imo
Surely anyone who can afford to give away several thousand pounds is bright enough to answer the question?
Surely anyone who can afford to give away several thousand pounds is bright enough to answer the question?
Soldato
5-6k gift ? dont u mean medical bill for the micheal jackson treatment 
Associate
Id be tempted to mix it up a bit, a couple of cheques or cheque and some cash.
If they put to much in their bank account in one go they may have to pay income tax on it.
As for the person who asked if you pay tax on a Lottery win, no the person who wins doesn't but if they give the money to some one else they do, this is the reason why if your in a syndicate they tell you to make sure all members of the syndicate are named when collecting the money.
If they put to much in their bank account in one go they may have to pay income tax on it.
As for the person who asked if you pay tax on a Lottery win, no the person who wins doesn't but if they give the money to some one else they do, this is the reason why if your in a syndicate they tell you to make sure all members of the syndicate are named when collecting the money.
Soldato
lol, the OP seems to be asking what the best way to physically hand over the money is.
But almost all the answers are about how to dodge tax.
What actually is the point where Capital Gains becomes an issue?
But almost all the answers are about how to dodge tax.
What actually is the point where Capital Gains becomes an issue?
If it's a gift then a cheque should be ok.
Caporegime
Fixed.