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    Prince Charles a ‘basic rate taxpayer’

    Prince Charles a ‘basic rate taxpayer’

    Huge amount of tax written off by accountants

    Author Date published June 26, 2007 Categories

    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:

    Enter our Green Accountancy Survey to win
    £50 of wine

    Prince of Wales made ICAEW honorary member

    MPs seek access to Prince Charles’s accounts

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