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Playing in a syndicate

If you take part in a National Lottery syndicate, you could get a nasty surprise from the taxman when you win that multi-million pound jackpot. Unless a clear, written, agreement is in place before the prize has been won, the Revenue may treat a distribution of prize money to each of the syndicate members as taxable.

Note that although we understand that current tax practice is that a properly written agreement will avoid tax problems, the situation could change in the future, because Parliament makes new laws, the Inland Revenue changes its practice or the Courts interpret the law in a new way.

Note: Lottery Central cannot provide any further information regarding the setting up and running of a syndicate. If you have any questions we suggest that you contact the operator of the National Lottery or a solicitor.


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