Managing A Lottery Syndicate For Dummies

However, if they pass some of the winnings onto others then it might be liable to gift tax So to avoid this possible complication it is best to

While you as the winner will not be required to pay any tax on the money you win, your friends may be required to pay Gift Tax on whatever

lottery result 21 1 24 When you claim the prize you just say your in a syndicate and they'll organise the split between members Because you haven't got an agreement

lottery packs No But if they divide the proceeds before they are distributed, each recipient will pay their income tax on the amount they received