I'm quite interested in rates

And I really hope that helps 

What I've always tried to  work out is ...

If I won £10m on the Lottery - what would monthly income be?

A 2% interest rate on £1m = £20,000 p/a

On £10m = £200,000 p/a

Per month = £16,500 - roughly

Quite shocking really

Don't forget the little matter of tax on your interest 

But I'm quite sure if you had £10M to invest, you would get better rates than the ordinary person on the street.

Oh yeah tax  

Many years ago a student in the accountancy office I used to work for won a few hundred pounds on a horse race. I decided to tease him by getting a copy of a letter from the Inland Revenue, blanking out the text of the letter and asking a typist to type a letter to the person who won that there would be some tax to pay on his winnings. The student was taken in but I did tell him after a few minutes that the letter wasn't real. (he should have learned from his exam studies for tax that tax isn't payable on the winnings)

I'm not a betting person but I do recall as a young girl popping the odd bet on for a couple of my Irish aunties who liked a bit of a bet on the horses. . I am sure I used to have to place the bet, tax paid on the amount of the bet, so avoiding having to pay tax on any potential winnings.

Can't recall if that was Irish or UK tax law tho ..  

I think people in the UK used to be able to either pay 9% on the bet when staking it or pay 9% on any amount won but that was abolished years ago by Gordon Brown when he was chancellor.

I did a similar thing

Friend got a new job

I photocopied the acceptance letter - blanked out most, used the header and wrote due to an admin error the post was no longer available, lol

I said they posted it to our workplace and handed it to her.

After a brief scare she knew it was from me LOL

I remember about twelve or so years ago the annual interest rate on My cash ISA was 6.5% ,so yes savers have really suffered lately especially folk that invested pensions etc.Ain't got the ISA any more..spent it.

I too have just cashed in an ISA and overpaid on my mortgage. The interest was so low on my ISA that I actually saved more money not paying interest on the mortgage.

I have been lucky to have locked 2 ISA's at 3% and 4%. The 4% ended in April and the 3% ends next April.

Interestingly (pun intended) enough, it doesn't!

Aah I thought I'd dreamt it...

think a £1 bet tax paid used to cost £1.10  when I did it. . was a very long time ago tho

Yep I remember years ago betting my 50p on the grand national and getting asked if i wanted to pay the tax,I also remember signing a petition at the bingo to get the tax removed