28 July 2005

Royal finances under scrutiny

MPs have been examining the finances of the Queen and Prince Charles. In addition to payments from the civil list, both have other sources of income from "private" estates.

The Duchy of Lancaster accounts show that the Queen benefited from a surplus of £9.7m, a 19.6% increase on the year before, while this year's Duchy of Cornwall accounts showed that Prince Charles's private income from his estates at £13.2m, up 11% on the previous year.

These amounts are in addition to civil list payments that the Royals receive from the state.

Both the Duchy of Lancaster and Duchy of Cornwall are exempt from capital gains tax and corporation tax, and are passed upon death without being subject to any inheritance tax. These tax breaks alone are worth several million pounds per year to the Queen and Prince Charles.

The accounts also show that the Duchy of Cornwall purchased a house for Michael Fawcett, Charles's very close friend and personal assistant. In 2003 Mr Fawcett obtained unprecedented injunctions preventing a raft of UK newspapers publishing allegations that he was caught in bed with Prince Charles.

MP have also voiced unease about the Duchy hiring interior designer Annabel Elliot. Mrs Elliot was paid to renovate three holiday cottages on the Isles of Scilly. MPs have pointed out a possible conflict of interest - Mrs Elliot happens to be the sister of Camilla Parker Bowles!

Many UK taxpayers will likely be shocked that they are having their own incomes taxed at up to 40%+, whilst the richest in the land, with jobs for life, are able to inherit large estates without paying inheritance tax, and then run those estates at a profit without paying any corporation or capital gains tax.

Cronyism, tax dodging and corruption. The changes in the House of Windsor appear largely cosmetic.

More information
The Guardian - MPs tell Prince of Wales: Open up
The Observer - Prince's £12m salary investigated

40 comments:

  1. I like to blogs to get such interesting posts. Every blogs has their own writing fashion and I got to learn many things from this blog. The contents were very opt to the topic and it is very easy to understand. Always keep the same quality of contents in your blog. Thank you so much for the writing.

    ReplyDelete
  2. Chengannur Election Result 2018 LIVE Chengannur Election Result 2018, Election Result 2018, Chengannur Election Chengannur Election Result 2018 and Candidates List Chengannur Election Result 2018 will be published on 31 May 2018 (Reference: www.ceo.kerala.gov.in by official declaration). Here is the complete Candidate List, Results and all Stats of 2018 Chengannur
    Chengannur Election Result 2018

    ReplyDelete
  3. Chengannur Election Result 2018
    Chengannur Election Result 2018 LIVE

    Chengannur Election Result 2018 will be published on 31 May 2018 (Reference: www.ceo.kerala.gov.in by official declaration). Here is the complete Candidate List, Results and all Stats of 2018 Chengannur Constituency By Election Election. 2018 Chengannur By Election Results and Candidates List will be published here. Stay tuned with us for the complete candidates list and Detailed results of 2018 by poll to Chengannur Assembly Constituency.

    ReplyDelete


  4. Our Russian Escorts in Manali have smooth bodies that can prepare you for a night of sexual loving. You don’t want to feel self-conscious as you’re safe here at our Call Girls agency. Our Services are all-time service that is accessible for you 24*7 hours. Our Escorts Girls are always prepared to make you fill you’ll have a fantastic alluring night with our lovely girls and you only need for believing simultaneously. Check our other Services also...
    Russian Escorts in Manali
    Russian Escorts in Paharganj
    Russian Escorts in Pune
    Russian Escorts in Pune
    Russian Escorts in Pune
    Russian Escorts in Pune

    ReplyDelete
  5. Thank you for sharing this interesting content. Keep it up! aboutgenerators reviews guide news

    ReplyDelete
  6. This is a nice article. I want to read more

    ReplyDelete
  7. Great blog. Keep up the good work.
    managed it services west palm beach

    ReplyDelete
  8. Thanks for sharing such a great blog. Keep sharing the great work. fence companies milwaukee

    ReplyDelete
  9. Great website content. Keep sharing. fencing contractor richmond

    ReplyDelete
  10. Thanks for sharing such a great website. Keep up the good work. fence company st louis

    ReplyDelete
  11. Nice blog. Looking for more. concrete fort worth

    ReplyDelete
  12. Great website. Looking for more good work. fence contractors tulsa

    ReplyDelete
  13. Wow. That's a big revelation! If proven true, the feelings of taxpayers is valid. I also pay tax for finishing our basement. It's unfair if the royals don't do their obligation to pay taxes.

    ReplyDelete
  14. I think this is really informative! Thank you for this!
    Tree Removal Owenboro

    ReplyDelete
  15. The topic is highly informative. Well done on sharing it.
    Mortgage Brokers Near Me

    ReplyDelete
  16. Awesome read you’ve got there, I’ll have to pass it on!
    House Cleaners Red Deer

    ReplyDelete
  17. The examination of the finances of the British royal family, including Queen Elizabeth II and Prince Charles, has been a topic of public interest and debate for many years. contact

    ReplyDelete
  18. Thank you for sharing this post! Resin driveways are a popular choice for homeowners wishing to improve the appearance and functioning of their driveways because they combine durability, visual appeal, and minimal maintenance requirements. resin-driveways-edinburgh

    ReplyDelete
  19. I really enjoy reading your posts. great work!
    https://plasticsurgerymesa.net

    ReplyDelete
    Replies
    1. The Queen and Prince Charles both have access to income from private estates in addition to payments from the Sovereign Grant, which is funded by taxpayers.

      Delete
  20. Informative post! Thanks for shedding light on this topic. drywall repair North Ogden

    ReplyDelete