Www.winahouseindublin.com

[Orchard park]

Not meaning to be a begrudger by any stretch of the imagination but I always wondered about these types of things. Particularly in the north. If you win a house do you not still have to fork out the considerable stamp duty. Moreover do you not end up with a hefty tax liability to the point where the prize is far lower than what it cost the organisers in the first place.

Not the first time you've offered dubious legal advice here

Nothing dubious at all you'll find. He poses a question about possible legal and tax implications. As Orchard Park has stated registration fees and stamp duty are payable. There's no immediate immediate tax implication but in the event of a future sale there is a potential tax implication. I'm not an accountant but there's a potential tax liability on the sale of about 33% on the sale value. That's pretty substantial. There also have been a number of test cases in England and the north about the ability to actually have a house as a prize in a raffle like this as there are questions under the gaming legislation about the ability to transfer an asset of this nature but that's another question altogether.

Here,  how's the legal practice going these days?

CGT only on any increase in value above the 425k and not applicable on a primary residence...

It will be a nice "problem"To have for one lucky person anyways

[manfromdelmonte]

Not meaning to be a begrudger by any stretch of the imagination but I always wondered about these types of things. Particularly in the north. If you win a house do you not still have to fork out the considerable stamp duty. Moreover do you not end up with a hefty tax liability to the point where the prize is far lower than what it cost the organisers in the first place.

Not the first time you've offered dubious legal advice here

Did you actually buy a ticket yourself

[Rossfan]

He's been too busy running the Universe!

[David McKeown]

I didn't realise that asking a question about something that's interested me for a while but on which I know nothing about constituted offering dubious legal advice. Maybe that's how I did it previously? Because apparently this isn't the first time.  That's a question and should not be interpreted as a piece of legal advice.

[Orchard park]

Only onev poster took it as such David.

My advise buy a ticket and hopefully have the issue to deal with first hand. It looks like c12500 tickets currently sold so what the final 24 hours brings in will be interesting

[David McKeown]

Oh best of luck with it. I didn't realise it was still going.

[Orchard park]

Tomorrow night at 9pm in the Hodson Bay

[Rossfan]

If we nett over €750k won't we have done well?
All we need then is AIG to sponsor us......

[Cunny Funt]

Lucan winner, those dubs win everything. Over 14k tickets sold.

[Orchard park]

Guts of 950k profit...... A roaring success

[Rossfan]

Mighty effort.
Congrats to the lucky winner and well done RCB and Clubrossie.
14,034 tickets sold.

[stephenite]

Guts of 950k profit...... A roaring success

Jaysus - that's a lot of coin, fair play to ye

[Itchy]

Time to trade in the bus for a double decker?

[magpie seanie]

That's a phenomenal success. Well done Roscommon.

[Lar Naparka]

Guts of 950k profit...... A roaring success

Well done- it was a gamble I suppose but it was a case of fortune favours the brave.