Per year... roughly..?

Just making a few plans


Andy

 

Assuming 5% growth you would get 137.00 a day. Normal saving account would give you 3-4%. Decent investment portfolio could get you 18-20%. Lucky share buys or bookies could get 40-1000%

 

Assuming you get 4%, take one interest payment a year and are a higher rate taxpayer, then you'd take home £24,000. Peanuts eh? A million squids ain't what it used to be
Chuck

 

Yep, I'm interested!



Oh, sorry... I'll get my coat

 

If you put the money in a Abbey National E-Saver account you'd get 4.45%.
If this was your only income you'd get £32,518 per year net.
If you were already a 40% taxpayer then you'd get £27000 net.

 

If I had a million quid in the bank, I'd sure not be working and would therefore not be a higher rate taxpayer

Lottery win????

D

 

You will get a lot of interest from me - just pop it in my bank account and thats it

Byeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee

Pete

 

Diablo,

If you are UK tax resident then your interest income is taxable as if it was your salary. The only difference is that you would receive it net of basic rate tax at 20% (?) and then, if they asked you to do a tax return, you may have to cough up some more.

In the example given abouve this would not trigger a 40% liability as interst rates are so low at the moment, you would have to earn more than apporx £34k in interest and then only the marginal income abouve that would be subject to 40%

YAWN!

PS. If you had £1m and wanted to live off it, you could buy an annuity which would give you a certain level of income for the rest of your life. Clearly the imporant factors here are how long the actuaries think you will live for! If you are healthy, young, and a non-smoker then you won't get much but if you ar 55+ with one lung then you will get a surprising amount! ie. they could afford to pay you £100k a year for 9 years and still make money out of it (so long as you die early!) If you live for 30 years then it is their loss!

 

Avi mate! If these "plans" come off, fancy buying a car for likkle old me That or bring me on this bank job, er, I mean plan, of yours..

 

Avi
Please post your address and see how much 'interest' 1 million gets

Paul

 

 

last guy i invested a million pounds for would have been a bit gutted if he got 3/4/5% a year

Tiggs

ps- comission for investing a million = scoob and big bag of change after tax

 

I've got alot of friends who invested a million in the past 3 years, in the ever rising cant lose internet bubble in the states, many of them have had to go back to work....anyway, he asked about interest, not investments
Chuck

 

Quite right Chuck, but in the interests of my own personal gain, I could make you 5% a month!!!

 

You want Andy's address Paul? hmm, thats a good point...

Andy, I want some cash or Paul gets the address