King Charles In Tears As Prince William Finally Makes BRUTAL DECISION On Queen Camilla
King Charles In Tears As Prince William Finally Makes BRUTAL DECISION On Queen Camilla
Despite these changes, the professional relationship between Elliot and the royal family has not concluded. King Charles III continues to value Elliot’s expertise, recently entrusting her with the design of the new visitor center and restaurant at Balmoral Castle, a project that marked its public opening this summer.
Prince William Is Not Revealing What He Paid in Taxes, Breaking King Charles’ Tradition
King Charles voluntarily began to pay taxes on earnings from the Duchy of Cornwall in 1993, and Prince William also settled up — but he didn’t publicly disclose the sum
Prince William is doing things a little differently from his father, King Charles, when it comes to running the Duchy of Cornwall.
The Prince of Wales, 42, inherited the estate worth over $1 billion when the King acceded the throne in 2022. However, William declined to disclose how much he paid in taxes on the $30 million he received from the duchy for the 2023-2024 financial year, his first full year as head of the holding as the Duke of Cornwall. It’s understood that he paid the tax, after the subtraction of unspecified household expenses, but did not publicize the amount as his father previously did.
The Duchy of Cornwall has crown exemption, meaning that the royal in control is not obligated to pay income or corporation tax at all. However, the future King Charles voluntarily began to do so from 1993 on when he was the Prince of Wales and Duke of Cornwall, Hello! said.
In recent years, King Charles shared that he paid a little more than £5 million ($6.4 million) in taxes on money from the Duchy of Cornwall for the year ending in 2021 and £5.89 million ($7.5 million) in 2022, The Telegraph reported.
The Prince of Wales does not receive a traditional income. Instead, his and his family’s annual costs, including official royal duties and private expenses, are largely covered by the Duchy of Cornwall estate. The holding was established by King Edward III in 1337 to provide funds for the heir to the throne, and the Duchy of Cornwall now spans 130,000 acres across 23 counties in England and Wales, encompassing farmland, property and commercial businesses.
“This year’s distributable surplus was £23.6 million [$30.4 million]. We are pleased this was achieved while still spending a record amount on repairs and maintenance and investing in our staff and our sustainability programs,” the Duchy of Cornwall said in a briefing about the 2024 Integrated Annual Report.
The Duchy of Cornwall released the report on July 24, drawing comparisons between King Charles’ and Prince William’s management following William’s first full year in the position.
In another difference, Prince William declined to rehire Queen Camilla’s sister, Annabel Elliot, as an interior designer for the Duchy of Cornwall’s holiday properties, offices and nursery. Annabel was reportedly paid thousands of dollars over the years for her design work since 2005.
“Sources confirmed that Prince William would no longer employ Ms. Elliot, although it was no reflection on her work,” The Telegraph reported on July 24.