TaxPersonal TaxPrince Charles a ‘basic rate taxpayer’

Prince Charles a ‘basic rate taxpayer’

Huge amount of tax written off by accountants

Accountants for Prince Charles
have written off £7.2m or 48% of his income earned from
his Duchy of Cornwall estate,
against tax.

This meant the actual amount of tax he paid as a proportion of his gross
income fell to 22.6% effectively making the prince a basic rate taxpayer

According to ThisisLondon.com, the
heir to the throne earned more last year than ever before and spent more on
staff, travel and entertaining. Yet he still received a substantial pay rise
from the taxpayer.

Charles saw his personal income from the Duchy of Cornwall soar to a record
£15.1m – up by £1.1m on the previous year and boosted by more than £2m in
government grants, a 28% rise.

Further reading:

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Prince of Wales made ICAEW honorary member

MPs seek access to Prince Charles’s accounts

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