If you haven't read this Guardian report (and yes, I did contribute) then please do.
There's not a shadow of a doubt the Prince's tax arrangements are in the box marked "PR" because they sure as heck aren't related to any tax law I can find.
Even if he does pay income tax on the Duchy's income (and it's never been clear to me that such arrangements accord with any recognised tax law) he does not pay capital gains tax on its gains and nor will his estate pay inheritance tax on the value of his life interest which would both seem appropriate in tax trust law. So, this looks decidedly like tax from the Starbuck's PR book, but not from the statute book.
And the right question is, why is that?
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Do the tax advantages that the Duchy of Cornwall enjoys amount to illegal state aid?
I can’t bring myself to buy any of its overpriced products in the supermarket, and I don’t understand why competitors don’t make a complaint to the European Commission.
Interesting question
Richard, this might seem like a stupid question, but how does the Duchy provide an income? Where do its earnings come from? And do the Duke and Duchess of Cambridge earn a similar stipend from their duchy? I was always under the impression that the members of the Royal family were paid out of British taxes, but is this something separate then?
Sorry, if I offend the monarchists, but this seems a racket to me.
Sorry Richard, I read the article and that explains the sort of income. But does this set-up exist for all the Royals? And when Charles is no longer P of Wales, does the income pass then automatically pass on to the heir?
The Duchy pays its income to the Duke (who is not on the civil list) for his / her use. Whilst rare, I think it accumulates if there is no Duke. No other royal has such an arrangement. It is incredibly generous, hence the Duke’s extravagance.