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Ben G

Member

Registered: 12th Jan 07
Location: Essex
User status: Offline

22nd Dec 11 at 22:29

poor sod.

http://pistonheads.com/news/default.asp?storyId=24928

AndyCorsaSport

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Registered: 12th Feb 06
Location: Horsforth, West Yorkshire
User status: Offline

22nd Dec 11 at 22:32

Poor sod? He's won a Lambo?

Ben G

Member

Registered: 12th Jan 07
Location: Essex
User status: Offline

22nd Dec 11 at 22:34

just found out he apparently crashed it on purpose aswell as he was faced with a $64k tax bill for winning it

AndyCorsaSport

Member

Registered: 12th Feb 06
Location: Horsforth, West Yorkshire
User status: Offline

22nd Dec 11 at 22:37

Thats why this world is fucked, taxed for winning a car.

Ben G

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Registered: 12th Jan 07
Location: Essex
User status: Offline

22nd Dec 11 at 22:41

i don't understand it tbh. if you win something in the uk, you don' thave to pay tax on it, like a lottery win.

whereas in the US you do afaik.

Mike

Organiser: North West and North Wales
Premium Member

Registered: 20th May 06
Location: nr. Skipton, North Yorkshire
User status: Offline

22nd Dec 11 at 22:42

Hit black ice or gravel on a bend, yeah, course you did mate

GB123

Premium Member

Registered: 21st Nov 11
Location: Kent
User status: Offline

22nd Dec 11 at 22:45

That's what it says here also,

http://jalopnik.com/man-wrecks-lamborghini/

Paul_J

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Registered: 6th Jun 02
Location: London
User status: Offline

22nd Dec 11 at 22:54

quote:
Originally posted by Ben G
just found out he apparently crashed it on purpose aswell as he was faced with a $64k tax bill for winning it

surely a better option would've been to sell the car - pay off the tax and pocket the change?

richc

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Registered: 24th Mar 07
Location: Ilkeston
User status: Offline

22nd Dec 11 at 22:57

quote:
Originally posted by Paul_J

quote:
Originally posted by Ben G
just found out he apparently crashed it on purpose aswell as he was faced with a $64k tax bill for winning it

surely a better option would've been to sell the car - pay off the tax and pocket the change?

Then buy a second hand one

John

Member

Registered: 30th Jun 03
User status: Offline

22nd Dec 11 at 23:31

quote:
Originally posted by Ben G
i don't understand it tbh. if you win something in the uk, you don' thave to pay tax on it, like a lottery win.

whereas in the US you do afaik.

The winnings aren't taxed because they get the tax before it gets anywhere close to being won.

Maybe they wait until after to tax in the US.

xa0s

Banned

Registered: 4th Mar 08
Location: Dartford, Kent Car: Turbo'd Fabia vRS
User status: Offline

23rd Dec 11 at 03:10

doesnt look that bad. to him yeh it prob is but i'd still love that sat on my drive... it would still sell for hundreds of thousands

Seany

Member

Registered: 13th Dec 06
Location: Dunfermline, Fife : Drives Astra cdti Sri
User status: Offline

23rd Dec 11 at 03:48

Do you not get taxed something like 50% on your first million in the US?
Sure I heard that somewhere before.

Russ

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Registered: 14th Mar 04
Location: Armchair
User status: Offline

23rd Dec 11 at 08:30

think the tax bill thing is balls

Russ

Member

Registered: 14th Mar 04
Location: Armchair
User status: Offline

23rd Dec 11 at 08:34

read it again, its in the US, LOL, sucks

Member

Registered: 10th Sep 03
User status: Offline

23rd Dec 11 at 09:26

quote:
Originally posted by John

quote:
Originally posted by Ben G
i don't understand it tbh. if you win something in the uk, you don' thave to pay tax on it, like a lottery win.
whereas in the US you do afaik.

The winnings aren't taxed because they get the tax before it gets anywhere close to being won.

Maybe they wait until after to tax in the US.

I think you pay tax on lottery winnings in the US, so perhaps the same applies to winning a car.

CORSA NUT

Member

Registered: 3rd Aug 01
Location: Wirral
User status: Offline

23rd Dec 11 at 09:41

Yep everywhere exept Texas

think it's so fucking wrong!

I've watched 'Lottery Changed My Life' a few times. It's VERY american but watchable ish. Some guy won a million and only got £650,000! BUT a guy won 84 million and only got 62

Bullshit yanks!

CORSA NUT

Member

Registered: 3rd Aug 01
Location: Wirral
User status: Offline

23rd Dec 11 at 09:44

HideLargest US lottery prizes

$390 million, Mega Millions, won March 6, 2007, by 2 tickets, in Georgia and New Jersey. (Cash payout was $233.1 million, second all-time). The largest jackpot in an American lottery)|Georgia]] claimed a $275 million Mega Millions prize, choosing $167,694,000 cash.[1]
On October 19, 2005, the $340 million Powerball jackpot was won.[2] The lump sum value, $164.4 million, was chosen by the Chaney and West families in Oregon.[3]

Unlike in the US, where lottery wins are taxed, and the winnings paid through an annuity, unless a lump sum (if allowed) is chosen by the winner(s), European jackpots are generally tax-free (the lotteries themselves are taxed in other ways) and jackpots are paid in lump sum. In the United Kingdom, lottery wagers are split between Camelot plc and the government. Camelot, the game operator, takes some of the money for the prizes, some for operating costs, a small amount (about 0.5 penny of each ₤1) for profit, and puts the rest into their 'good causes' program. The remainder of the money (after Camelot's share) goes to the government as tax. The government collects VAT on ticket sales despite getting a cut of the entry.

SuperEnalotto is Italy's largest lottery. On August 22, 2009, the jackpot was won for the first time since January 31. The jackpot of €147,807,299.08 (US$205 million) went to a resident of Bagnone (Toscana).
EuroMillions is a pan-European lottery, with odds of 1 in 116,531,800 (1 in 76,275,360 before May 2011) and a minimum jackpot of €15 million (US$21 million).
The largest one-play Euromillions jackpot, £161,653,000 (US$260 million) was won on 14 July 2011 by Colin and Chris Weir of Largs, Ayrshire, Scotland. This is Europe's biggest jackpot on one ticket. [4]
In July 2005, housewife Dolores McNamara, of Limerick, Ireland, won a tax-free lump sum of €115,436,126 when she hit a nine-week rollover jackpot.
On February 3, 2006, EuroMillions had a prize of €183 million, which was shared between three winning tickets, two in France and one in Portugal, each winning €61,191,026.
In May 2009, a 25-year-old woman from Mallorca, Spain won a EuroMillions jackpot of €126,231,764. The jackpot had accumulated after rolling over for 6 consecutive draws. It is rumoured that she was suffering from flu and was getting ready to go back into work before she found out about her winnings. She quit from her job within minutes of finding out.[5]
German National Lottery biggest lottery winning of €37,688,292 was taken on 7 October 2006. The largest jackpot was €45,382,458 in December 2007 and was split between three winning tickets.
Largest UK prize was £22,590,829 and hit in June 1995. The largest jackpot was £42,008,610 on 6 January 1996 and was split between three winning tickets.
France Lottery biggest lottery winning of €24,000,000 was taken on 6 June 2011. The largest jackpot was €30,009,676 in May 2006 and was split between two winning tickets (SuperLoto).
Belgium National Lottery biggest lottery winning of €7,000,000 was taken in October 2006 (SuperLotto). The largest jackpot was €10,000,000 in February 2008 and was split between ten winning tickets (SuperLotto).
The Irish National Lottery has a guaranteed jackpot of €2 million for each of its twice-weekly Lotto draws.
The second largest ever Irish National Lottery jackpot of €18,963,441 was won on June 28, 2008 by a syndicate of sixteen work colleagues at a quarry and concrete plant in County Carlow.
The EuroMillions jackpot of £91,141,671.00 was split into two prizes of £45,570,835.50 on November 6, 2009, one prize was won by a syndicate of seven work colleagues at an IT company in Liverpool, the other by a couple from South Wales.[6]

CORSA NUT

Member

Registered: 3rd Aug 01
Location: Wirral
User status: Offline

23rd Dec 11 at 09:46

390 Million down to 233 Million

Jimbothebarbarian

Member

Registered: 19th Apr 07
Location: Cumbria..........drunk..
User status: Offline

23rd Dec 11 at 10:41

I was just about to post about that program! I caught some last night while flicking through the channels.

Some poor bint won a 1.2 million house and had t pay 600k tax or something fucking mental. I nearly fell over! Only in America could winning cause such a fail..

DaveyLC

Member

Registered: 8th Oct 08
Location: Berkshire
User status: Offline

23rd Dec 11 at 10:58

Look guys I've won a 640bhp super car.. Lets got a for a drive in the snow!!...

...Who'd have seen that coming eh?

Sunz

Member

Registered: 12th Jan 07
Location: SE England
User status: Offline

23rd Dec 11 at 12:03

America: The Land of Opportunity !

I think the taxes make a more interesting story then the guy with the Lambo.

3CorsaMeal

Member

Registered: 11th Apr 02
User status: Offline

23rd Dec 11 at 12:17

can't think of anything better than owning a lambo and then crashing it, all for free!!!

still worth loads in spares

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