How the planner works
Start with the prize, then drag the sliders for the big things you’d do straight away. Whatever’s left is your pot. The planner shows what that pot could earn each year at the return you choose, and how many years it would last if you spent your yearly amount on top.
If the pot earns more each year than you spend, it never runs out. That’s the goal most advisers talk about for a big win.
Questions people ask
Do you pay tax on a UK lottery win?
No. National Lottery prizes are paid tax-free in the UK. Tax can apply later, for example on interest or investment growth, and on large gifts if the giver dies within seven years.
How long would £1 million last?
It depends on what you spend up front and each year. Kept in savings earning 4%, £1 million pays about £40,000 a year before tax without touching the original sum.
What return should I use?
We start at 4% a year as a simple example. Savings rates and investment returns go up and down, and investments can fall in value. Change the rate to see how much it matters.
Is this financial advice?
No. It’s a planning toy to help you think. If you win a large prize, speak to a regulated financial adviser and a tax specialist before you make big decisions.