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Lawmakers call for breakdown of tax levied on private incomes of Queen Elizabeth II and Prince Charles

Lawmakers call for breakdown of tax levied on private incomes of Queen Elizabeth II and Prince Charles

An influential committee of lawmakers on Tuesday demanded a detailed explanation of taxes levied on income earned by Queen Elizabeth II and Prince Charles from royal estates.
Members of the parliamentary Public Accounts Committee said they had asked Britain's Treasury to clarify why the Queen and Prince of Wales do not pay corporate tax or capital gains tax on the income.
The Queen earned around 10.7 million pounds (US$20million; euro16million) in the last fiscal year from investments and property held by The Duchy of Lancaster, an estate which has belonged to the reigning sovereign since 1399.
Prince Charles' office said the heir to the throne's private income from The Duchy of Cornwall was around 14 million pounds (euro20 million; US$25 million) in the past year.
The Duchy of Cornwall was established in 1337 by King Edward II to provide income for the monarch's heir.
Conservative lawmaker Edward Leigh, head of the committee, said his panel wants to establish if the Duchies operated outside the usual British tax regime.
Leigh said he had sent a letter to Treasury financial secretary John Healey asking him for clarification.
The Treasury said it had previously rejected requests by the committee to scrutinize royal tax arrangements and did not believe they benefited from favorable taxation requirements.
"The Duchy accounts are already under rigorous scrutiny. They are audited by an independent auditor and subject to scrutiny by the Treasury," said a spokeswoman for Prince Charles' Clarence House office, who spoke on condition of anonymity in line with palace policy.


Updated : 2021-10-21 17:09 GMT+08:00