Related questions

Q.Was there ever a yearly draw of the national lottery in britain?

A.No, there has never been a yearly draw of the National Lottery in Britain. Of every £ spent on the Lottery, 50p goes to the prize fund & 28p to charity.

Q.If i win the lotto can i give money away to friends and family without being taxed

A.You do not have to pay tax on lottery winnings. However, if you saved rather than spent them, you would then have to pay tax on any interest earned.

Q.If you win the lottery and go back to work what tax would you pay

A.If you spent your winnings, you would pay the same tax rate as you did before. If you were receiving a lot of interest from the money, you'd pay 40%.

Q.Where does the lottery get the money from?

A.The winning lottery money comes from the money that the public has spent on buying lottery tickets. So the more tickets bought, the higher the jackpot.