[ Bbc.co.uk Link ] "Prince of Wales is not liable to pay corporation or capital gains tax, a senior royal aide has told MPs on the Public Accounts Committee.
William Nye said the Duchy of Cornwall - which provides the heir to the throne with a private income - was not a corporation and that the prince voluntarily pays income tax.
Committee chairwoman and Labour MP Margaret Hodge questioned the "fairness" of the tax arrangements.
The duchy estate is worth £762m."
[ Dailymail.co.uk Link ] Prince Charles was last night accused of paying a lower tax rate than his servants.
Labour MP Austin Mitchell claimed the Prince of Wales was ‘dodging around’ to avoid tax.
He said that by refusing to classify the Duchy of Cornwall property empire as a corporation, Charles did not pay corporation tax like other big profit-making firms."
[ Theguardian.com Link ] "Prince Charles's £700m estate accused of tax avoidance"
[ Telegraph.co.uk Link ] "Did Prince Andrew avoid a £6 million tax bill when he sold Sunninghill to his Kazakh friends?
The Duke of York used a complicated tax avoidance scheme to save up to £6 million in tax on the profit he made on sale of his home to a Kazahk billionaire for £15 million, it can be revealed."
The Queens sister gave away her assets whilst alive to her sprogs, so as not to share her bounty with the masses.
"Before her death, Princess Margaret's fortune had been unofficially estimated at £20 million. However, she is understood to have given away much of her estate - including her home on the island of Mustique - before she died, to circumvent death duties."
Yes. As most sensible people do.
Tax avoidance isn't illegal. Tax evasion is. And for those who point fingers, I'd lay odds if they were wealthy, they'd do all they could to pay as little tax to the Government, as legally possible too. The Queen doesn't HAVE to pay tax btw, but she does.
Prince Charles' total income is around 35million. He pasy 2 million in tax. Go figure.
They don't avoid tax so much as avoid its impact by simply drawing more public money whenever they need it.
They don't pay tax
Sure, they employ accountants whose job it is to save as much income/capital as possible from being taxed.