IFAs tell EuroMillions winners how to avoid pitfalls

clock

This week Les Scadding and his wife Samantha Peachey-Scadding from Caerleon, South Wales, won £45.5m on the EuroMillions.

This huge, tax-free win means the couple is now as wealthy as many supermodels, footballers and movie stars. Mr Scadding, 58, is an unemployed grandfather of six and cancer survivor. His wife, 38, runs a marketing and PR company from home. What should they do with their newly-found fortune? Peter McGahan, managing director, Worldwide Financial Planning Limited The UK government will have helped Les and Samantha with the extra nil rate band for inheritance tax. That will have pulled the total IHT bill down from £18,070,000 to a mere £17,940,000 - what a bonus! The extra allowance for ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on uncategorised

Brooks Macdonald becomes BAFTA wealth management partner

Brooks Macdonald becomes BAFTA wealth management partner

Partnership starts in 2026

Jen Frost
clock 08 December 2025 • 1 min read
As Reeves scrabbles for Budget funds, is she missing a Covid furlough trick?

As Reeves scrabbles for Budget funds, is she missing a Covid furlough trick?

Creativity key as chancellor faces tough tax and spending choices

Jen Frost
clock 21 November 2025 • 8 min read
Titan Wealth inks Harlequins partnership

Titan Wealth inks Harlequins partnership

Becomes wealth management and women’s partner

Jen Frost
clock 03 October 2025 • 2 min read