TaxAdministrationPrince Charles ‘green washes’ his earnings

Prince Charles ‘green washes’ his earnings

The Prince of Wales paid less tax last year although he earned £1m more by ‘green washing’ his finances

Prince Charles’ latest published accounts show he paid less tax last year
while earning £1m more by off-setting his payments to HM Revenue & Customes
with a series of green purchases, including the convesion of his cars to run on
bioethanol and installing woodchip boilers in his home.

The Prince’s investment in green electricity supplies and further reduction
in travel-related emissions enabled him to claim his household had generated 18%
less CO2 than the year before, The Independent reports.

Part of the reduction was achieved by converting his range of Jaguars, Audi
and Range Rover to run on biodiesel made from used cooking oil, while Prince
Charles’s Aston Martin has been converted to run on surplus wine from English
vineyards.

While his advisers claimed this represented a huge success in his battle
against climate change the accounts also revealed Prince Charles was able to use
his ‘green expenditure’ to ensure he paid less income tax on revenues which
increased by 7% to £16.3m and which grew more than £360,000 to £8.3m.

Further reading:

Read
The Independent story

Monarchy
costs the taxpayer an extra 2%

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