Financial advice for lottery winners

Financial advice helps lottery winners protect and grow their wealth, ensuring it lasts. 
As financial advisors specialising in lottery winners, we can create tailored plans for investing, tax efficiency, and budgeting, while offering guidance on gifting and lifestyle goals. With expert support, you can enjoy your winnings responsibly and confidently.

You’ll also find that we maintain strong collaborative relationships with legal firms. With your wealth management and legal teams working together, you’ll receive seamless and joined-up support – useful for things like Wills and powers of attorney.

After winning the lottery, the first step is to stay calm and avoid making any immediate major decisions. It can be daunting, but the National Lottery team are there to provide initial support and guidance. 

You can also contact our specialist lottery winner team for an early meeting. There’s no cost or obligation and we’re happy to answer any questions. After that, if you want, we can help you create a comprehensive financial plan, covering things such as securing your winnings, tax planning, and long-term financial goals. We will always be clear and upfront about what you can expect and any costs

In the UK, you have the option to remain anonymous after winning the lottery. At Canaccord Wealth, we understand the importance of privacy and confidentiality, and we work with a dedicated small team of experts to manage your affairs discreetly and securely. Our team will also guide you through every step to ensure your anonymity is preserved and your information remains private

No, you don’t. In the UK, lottery winnings are tax-free. However, any interest or income generated from your winnings, such as investments, may be subject to income tax. We can help you navigate the tax implications and make informed decisions to optimise your financial situation.

Depending on the amount you win, we can also work together with specialist tax advisers to provide you with all the support and tax advice you’ll need.

Helping others is often important to lottery winners. We can support you in understanding how to navigate charitable giving or to support friends and family. 

It’s important to know how affordable any gifts are for you, and whether they might be taxed – now or in the future. We can advise on tax efficient mechanisms, such as Trusts and Gift Aid. And we can examine the potential impact of inheritance tax (IHT). 

You can gift up to £3,000 per year to individuals without incurring IHT. There are also additional allowances and exemptions available for larger gifts or for specific occasions, like weddings. Our advisers will help you structure your gifts to minimise IHT tax and maximise the benefits for your loved ones. For larger winners, we can help with introductions to broader charitable initiatives.

To make your winnings last, it’s essential to have a well-structured financial plan. 
We’ve worked with many lottery winners over the years, especially those winning a life-changing amount of money. In that time, we’ve found it’s crucial that winners use ongoing, regular cashflow modelling to keep their long-term financial plans on track. By continually checking and adjusting how you manage your finances, you can stay financially stable and feel confident in your future financial security.

Whether you can afford to give up work or retire depends on how much you win, your current financial situation, lifestyle, and future plans. A lottery winner financial adviser will help you understand your financial position, taking into account your winnings, ongoing expenses, and retirement goals. Together, we’ll create a strategy that provides financial security and peace of mind, allowing you to enjoy your newfound wealth.