How much interest on 157 million pounds?

Answer 1

At the current bank of england interest rate 0.5%, £157 million pounds would pay interest of £785,000 per year, or £65,416.68 per month.

However if you are a UK tax payer, and if you have £157 million pounds earning you interest you most certainly will be. You will have to pay tax on that interest.

It breaks down to (for the average person)

£65,416.68 Gross Income (interest paid to you)

£28,279.01 Tax (you have to pay this)

£1,576.20 National Insurance (you have to pay this)

Leaving you with a total of

£35,561.48 Per Month (This is the amount of money you get to keep and spend)