Prince William chose to remain tight-lipped about what he paid in taxes, unlike his father, King Charles III.
The Prince of Wales’ Duchy of Cornwall estate generated £23.6 million (roughly $30 million) in the last financial year, per the estate’s Integrated Annual Report published on Wednesday, July 24. (William, 42, inherited the estate and the title of Duke of Cornwall following the death of Queen Elizabeth II and Charles’ ascendance to the throne.)
Kensington Palace said that William paid taxes at a standard U.K. tax rate after official costs had been deducted, per HELLO! He is not required to disclose the amount.
The Duchy of Cornwall falls under the Crown exemption, meaning William is not legally liable to pay income or corporation tax. William, however, chooses to pay income tax, per the outlet.
Charles, 75, volunteered to pay income tax beginning in 1993 and has also made a habit of disclosing the figure. During his last full year before he became monarch, Charles revealed that he paid £5.9 million (roughly over $7 million) in income taxes, per HELLO!
The total sum published on Wednesday represented the total earnings taken from the inheritance for the 2023-2024 financial year. It included the “official, charitable and private expenses of Prince William, [Princess] Kate Middleton and their three children.” (William and Kate, 42, share kids Prince George, 11, Princess Charlotte, 9, and Prince Louis, 6.)
The Duchy of Cornwall was established by King Edward in 1337. Spanning 23 English countries, the estate is reportedly valued at over £1 billion (over $1.2 billion), per the Guardian.
The published report comes amid news that William and Kate are seeking a new assistant private secretary for Wales and the United Kingdom. Per the job description, the ideal candidate must speak Welsh.
“This is an exciting opportunity to join the dedicated team at Kensington Palace, supporting TRH the Prince and Princess of Wales,” the synopsis read. “The Assistant Private Secretary for Wales & UK will lead the planning and delivery for most of TRH’s public engagements in Wales, Scotland, and Northern Ireland, and contribute to the development of the Household’s strategy to maximize impact across the constituent nations of the UK, with a particular focus on Wales.”
The job description could mean a return for Kate, 42, who’s slowly resuming her royal responsibilities since announcing her cancer diagnosis in March. Kate has begun stepping out into the public eye, making an appearance at the Trooping the Colour in June and attending Wimbledon earlier this month with Charlotte by her side.
Source usmagazine.com
