This is very possible. I'm in the states so a million pounds is a ton more than a million dollars these days, BUT MSNBC (yes network news), has a yearly challenge where every participant is given "$10K" and you have only a few months to see how much you can make trading securities. Generally the winner's portfolio is somewhere near $2.5 million.

Now this is obviously a no risk proposition, but, there was also a trading guru not too long ago, who did the same thing with $10K of his own money, and within one year had well over a million (he actually had closer to 3 million, but gave some of it back to the market).

It is also possible to net over a million in internet marketing in less than a year. Now it's easy to say, and mush harder to do. The easiest way being a well, organized, unique content/idea, product, that is very well marketing. Some of the IM gurus have made more than a million in their first week of a product launch.

Just be original, and know what your customers want.