In two previous jobs I've been in a lottery syndicate. There's quite a bit of legwork to do it properly ... you need to nominate who buys the tickets, when subs are paid, what to do in the inevitable event that member A didn't pay in (for whatever reason) on the winning week ...
We never won either :(
The National Lottery provide a download pack that covers it . As you say if a few people just bung a quid in each week without an agreement things can get interesting. there is some circumstance where the Inland revenue want a cut connected with inheritance tax on the "Winners" estate if they die as the others cut will be deemed gifts. I see some Tesco nightshift workers are the latest who probably won't be doing many more shifts.
G.Harman
They signed a contract stating (among other things) in that case they didn't get a share.
Is there a "template" rules set for this kind of thing?
OK - forget my last question!
My mum won £25 on the premium bonds last week.
She should, on average, receive 1.30% of her investment back on winnings every year, at current rates. Of course, it is the possibility of the £1 million jackpot that attracts most people.
Could you repeat that again but, this time, in English, please!
It really was a case of Dilbert's thought bubble, "It sounds like English but I can't understand a word you're saying.".
That would have bought you a newbuild 2 bedroom bungalow with gas CH in Barnsley back in 1970. The builders did not fit the optional extra of gas CH ( that was £600 of the £5000 price) and hoped the customer might not notice that it was not fitted.
A syndicate at RAF Finningly in the early 60s won a large amount on the pools. The syndicate members were all posted to different stations. One arrived at my station with a brand-new Vauxhall Cresta.
It bought a lot more in the 1950s. Looking at Zoopla, the house sold for £1.4 million about a year ago and it is not even in a particularly nice part of London.
A fool and his money are soon parted:-) I got to listen to what the apprentice would spend his 5 million on should he win that amount on the lottery. His first priority was a quad bike and things just went downhill from there.
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