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You can win the Loto tax-free but may pay investing it

Ready query about what happens if you win the EuroMillion in France.

1 September 2016

I sometimes buy EuroMillions tickets while on holiday in France and wondered what would happen should I win millions! Would it be the same as in the UK where all winnings are tax free, even if I was on holiday when I won? J.D.

The funds won are not in themselves taxable at the time of the win but the invested capital won is liable to capital gains tax on any gains made thereafter, as is any income liable to income tax but in your country of residency – not France. 

Reader's query answered by Hugh MacDonald

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