Prince William has refused to reveal what he paid in taxes for the 2023-2024 financial year — breaking his father King Charles’ tradition which spanned more than 30 years.
The Prince of Wales, 42, inherited the Duchy of Cornwall estate worth over $1 billion when his father assumed the throne in Sept. 2022.
In addition to the tax-exempt estate, the father of three was given the Duke of Cornwall title.
Prince William has refused to reveal what he paid in taxes for the 2023-2024 financial yearPOOL/AFP via Getty Images
But William took a different approach from his father when it came to disclosing finances to the general public, as the prince declined to disclose how much he paid in taxes in his first full year as next in line to the throne.
It’s understood that William paid a standard UK tax rate unspecified household expenses were deducted from the bill.
However, he did not publicize the amount.
This is a stark contrast to his father, who voluntarily began disclosing how much tax he paid each year since 1993, Hello! reported.
The Prince of Wales, 42, inherited the Duchy of Cornwall estate worth over $1 billion when his father assumed the throne in Sept. 2022.POOL/AFP via Getty Images
Before handing over the estate’s reins to William, Charles shared that he paid more than $6.4 million in taxes from the Duchy of Cornwall for the year ending in 2021 and $7.5 million the following fiscal year, The Telegraph reported.
As the heir to the throne, William, his wife, Kate Middleton, and their three children benefit from the tax-exempt Duchy of Cornwall — a private estate that funds his public, charitable and private activities.
As the state falls under the Crown exemption, William is not required to disclose the amount he has chosen to pay and is not legally liable to pay income or corporation tax.
King Charles voluntarily disclosed how much tax he paid each year since 1993.REUTERS
The estate is valued at more than $1 billion and was established in 1337 by King Edward III to provide funds for the heir to the throne for generations to come.
It covers roughly 205 square miles of land across the UK, which includes over 20 counties, and is comprised of “arable and livestock farms, residential and commercial properties, as well as forests, rivers, quarries, and coastline,” the 2023 report notes.
It’s about twice the size of Queens, the largest of New York City’s five boroughs.
As the heir to the throne, William, his wife, Kate Middleton, and their three children benefit from the tax-exempt Duchy of Cornwall.Getty Images
William’s eye-popping annual salary was also revealed in the Integrated Annual Report, published Wednesday.
The prince received $30 million from the estate during the 2023-2024 financial year.
News
Tyson Fury reveals ruthless plan to destroy Oleksandr Usyk in explosive rematch
Tyson Fury, known as the “Gypsy King,” is no stranger to high-stakes showdowns in the boxing world. After the thrilling draw between him and Oleksandr Usyk, fans were left wanting more. Now, as Fury prepares for a highly anticipated rematch,…
‘REST EASY’ Justin Bieber pays tribute to One Direction star Liam Payne after his tragic death aged 31 – with touching video
JUSTIN Bieber has paid a touching tribute to Liam Payne – six days after his death aged just 31. The late One Direction star passed away aged 31 after tragically falling from his hotel balcony in Buenos Aires, Argentina. Sign up for the Entertainment…
🥊 Marco Antonio Barrera names the best fighters he faced
Marco Antonio Barrera fought the boxing elite of the 90s and 00s. The Mexican legend shared the ring with fighters like Prince Naseem Hamed, Erik Morales, Manny Pacquiao and Juan Manuel Marquez in a glittering career that ended in 2011…
🚨 Tony Bellew reveals brutal reason he retired from boxing
Tony Bellew has been sharing insight into his boxing career and beyond with campmates on ‘I’m A Celebrity.’ The former Cruiserweight world champion was asked why he retired from the sport and he’s explained exactly why. He revealed: “My body…
😬 58-year-old makes professional boxing debut, gets brutally knocked out in first round
Scot England’s professional boxing debut ended in a crushing defeat. England was coming up against 23-year-old Jashawn Hunter, who had lost all of previous six contests but managed to drop England in 5 seconds. He bravely managed to get to…
Fantasia Sends a Warning and Sues Oprah For Starving Them on Set
Get ready for the hottest celebrity gossip, trending topics, and entertainment news by subscribing to PEEPER! Inspired by popular platforms like Popjuice This Happened, Entertainment Tonight, and Nicki Swift, PEEPER brings you the inside scoop on all your favorite stars….
End of content
No more pages to load