Hey there! Sign in to join this conversationNew here? Join for free
    Offline

    2
    ReputationRep:
    -First things first, I'll be off to the World Cup in South Africa this summer. Being worth £113m I'm sure I'd get into any match I wanted even if they are already sold out.

    -Then I'd carry on around the world for a year, just doing charity work, learning new cultures and partying.

    -Pump a bit into the motherland, especially the villages where my parents grew up and make sure all my family there are catered for.

    -Upon my return, I'd buy Cambridge United.

    -Then some lucky medical admissions tutor will get £5m in exchange for an unconditional offer for medicine.

    -I'd then buy an obscenely big house for myself.

    -I'd give a chunk to the parents so that they can leave their jobs and do what they actually want to do.

    By now, I probably haven't dipped too much into the £113m. I seriously couldn't imagine that much. I suppose the rest would go into the bank for a rainy day.
    Offline

    3
    ReputationRep:
    (Original post by EDCE88)
    I believe lottery wins are tax free...
    They are, but what you do with the money afterwards isn't. So whilst you would get £113 million in your bank account, if you wanted to give say £20 million (or any amount of money) to anyone else, that would be taxed. And with the new 50p tax rate, they'd only get just over half. So that £20 million would actually be about £10 and a quarter million.

    Hence why I said I'd say my ticket was a family syndicate, so that we'd all get a quarter of the winnings without tax. If I just took the £113 million and then tried to divide it, the money that I gave to my family would be taxed.
    Offline

    0
    ReputationRep:
    (Original post by munn)
    not yet, but i should do on saturday morning if friday night goes to plan...
    Elaborate...?
    Offline

    14
    ReputationRep:
    (Original post by Superfrank)
    Elaborate...?
    I'm planning to win 113 million in the Euromillions
    Offline

    0
    ReputationRep:
    (Original post by munn)
    I'm planning to win 113 million in the Euromillions

    Hahaha, good luck
    Offline

    2
    ReputationRep:
    (Original post by Anderson8)
    You would get A LOT more than £10,000 a year! Its going to be £50,000+
    Haha hope so!
    (Original post by Adonis)
    lol

    dude, even a 0.01% APR would get you £1,000,000 a year.
    0.01% of 113,000,000 = 1% / 100 = 1,130,000/100 = 11,300
    Offline

    2
    ReputationRep:
    (Original post by ghanglish)
    -
    -Then some lucky medical admissions tutor will get £5m in exchange for an unconditional offer for medicine.
    :yep: Genius.
    £10m if they're pushing for it!
    (Original post by Lil Piranha)
    They are, but what you do with the money afterwards isn't. So whilst you would get £113 million in your bank account, if you wanted to give say £20 million (or any amount of money) to anyone else, that would be taxed. And with the new 50p tax rate, they'd only get just over half. So that £20 million would actually be about £10 and a quarter million.

    Hence why I said I'd say my ticket was a family syndicate, so that we'd all get a quarter of the winnings without tax. If I just took the £113 million and then tried to divide it, the money that I gave to my family would be taxed.
    Great idea!:yep:
    Offline

    13
    ReputationRep:
    (Original post by Adonis)
    What did you think 0.01% was?

    0.1 is 10%

    0.001% is 10th of a percent so 100k
    Hahahahaha

    0.1% is a tenth of a percent. 0.01% is a hundredth of a percent. 0.001% is a thousandth of a percent.

    Your mistake is that you're using .1 and .1% interchangeably. They are not the same.
    Offline

    0
    ReputationRep:
    (Original post by Pink Bullets)
    Hahahahaha

    0.1% is a tenth of a percent. 0.01% is a hundredth of a percent. 0.001% is a thousandth of a percent.

    Your mistake is that you're using .1 and .1% interchangeably. They are not the same.
    ye .. i realise what i did after

    oversight
    Offline

    13
    ReputationRep:
    (Original post by Superfrank)
    I'd hate winning that amount of money! Why would you bother with university and getting a job? I know I'd end up copping out and moving to the south of France; spending weekends in LA; buying shoes, clothes, bags... Actually, that amount of money doesn't seem so bad I guess
    Why wouldn't you? Some people have interests and ambitions other than money.

    Winning money wouldn't change the career I'd do (although I'd only do it part-time if I could).

    You'd eventually get so bored doing nothing but shopping and relaxing.
    Offline

    1
    ReputationRep:
    (Original post by chernij)
    Haha hope so!

    0.01% of 113,000,000 = 1% / 100 = 1,130,000/100 = 11,300
    £45 million will get you: (based on the 2009 euromillions jackpot winners)

    *£101,250 every month in interest earned in a 4.5pc savings account

    On that basis we can say that £113m would get you roughlt £200,000 a month in interest.

    So £2.4m a year. Nice
    Offline

    0
    ReputationRep:
    (Original post by Pink Bullets)
    Why wouldn't you? Some people have interests and ambitions other than money.

    Winning money wouldn't change the career I'd do (although I'd only do it part-time if I could).

    You'd eventually get so bored doing nothing but shopping and relaxing.

    Note why I said I'd hate to win that amount of money
    Offline

    2
    ReputationRep:
    (Original post by Anderson8)
    £45 million will get you: (based on the 2009 euromillions jackpot winners)

    *£101,250 every month in interest earned in a 4.5pc savings account

    On that basis we can say that £113m would get you roughlt £200,000 a month in interest.

    So £2.4m a year. Nice
    Verrrry nice!
    Offline

    1
    ReputationRep:
    (Original post by Miss_Scarlet)
    Can you just imagine, for a moment, if you checked your numbers and realised you had won.

    That would be an amazing feeling! And in like a few seconds, your life would have totally changed.

    I would probably drop dead on the spot.
    Offline

    0
    ReputationRep:
    (Original post by Baz1990)
    I would probably drop dead on the spot.
    I'd love to know how you'd explain to your paerets that you won, partcularly the living away students.
    Offline

    13
    ReputationRep:
    (Original post by DMV)
    I'd love to know how you'd explain to your paerets that you won, partcularly the living away students.
    send a hefty cheque to them with a picture of you holding the ticket. They'd understand.:woo:
    Offline

    0
    ReputationRep:
    (Original post by PJ991)
    send a hefty cheque to them with a picture of you holding the ticket. They'd understand.:woo:
    And risk getting a phonecall telling you that they both died of heartattacks?
    Offline

    13
    ReputationRep:
    (Original post by DMV)
    And risk getting a phonecall telling you that they both died of heartattacks?
    well send them £10 at first, and gradually increase the amount week by week. Soften the blow.
    Offline

    1
    ReputationRep:
    (Original post by DMV)
    I'd love to know how you'd explain to your paerets that you won, partcularly the living away students.

    I would not tell anyone straight away, I would wait at least a month
    Offline

    0
    ReputationRep:
    (Original post by PJ991)
    well send them £10 at first, and gradually increase the amount week by week. Soften the blow.
    Or you could just come home, sit them down and explain that you've won in a soothing voice maybe?
    and is that a Northumberland flag I see?
 
 
 
Reply
Submit reply
TSR Support Team

We have a brilliant team of more than 60 Support Team members looking after discussions on The Student Room, helping to make it a fun, safe and useful place to hang out.

Updated: February 15, 2010
  • See more of what you like on The Student Room

    You can personalise what you see on TSR. Tell us a little about yourself to get started.

  • Poll
    Has a teacher ever helped you cheat?
    Useful resources
  • See more of what you like on The Student Room

    You can personalise what you see on TSR. Tell us a little about yourself to get started.

  • The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

    Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

    Write a reply...
    Reply
    Hide
    Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.