Winning Lottery and Dividing between Sons and Daughters

sandy700

I just thought about Martin saying you could win the lottery and drop dead from the excitement.

What happens if you win 100 millions on the lottery and divide it between your spouse, sons and daughters then drop dead after they have received their share.

.
Do they each have to pay inheritance tax on their share?

JohnSwift10

What would happen if you were in a works lottery syndicate, and you were the person who ran it,  would each member have to pay 40% tax?

singhini

No tax to pay in the works lottery syndicate scenario as its different to winning the lottery, dying and then your family inheriting your money.

Of course in the first example (family example), when you cash-in the lottery ticket, you would just say that every member of the family was in a "family syndicate" and therefore your not inheriting anything, its your money in your own right. 

EDIT: Obviously the family members would have to be over 18 

Hal17

Ensure you have completed and all signed a Family Syndicate sheet just in case of that big win.