Prince Charles pays 'basic rate tax'

28 June 2007 In Accountancy

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Prince Charles pays 'basic rate tax' It has been revealed that the heir to the throne, Prince Charles, is in essence a basic rate taxpayer.

The prince's accountants wrote off £7.2 million, or 48 per cent, of the money earned from his Duchy of Cornwall estate.

This translates to the prince only paying 22.6 per cent of tax on his overall income, making him a basic rate taxpayer.

Last year, Prince Charles spent more on staff, travel and entertaining than in any year previously, reports ThisisLondon.com.

Bolstered by over £2 million in government grants, Charles earned £15.1 million last year from the Duchy of Cornwall.

This is a rise of £1.1 million on the figures from the previous year.

Prince Charles currently has 130 personal aides, including six personal chefs and 33 private secretaries.

Meanwhile, Sainsbury's has stopped selling the carrots raised on Charles' organic farm because they are "rotten".

A spokesman for the prince said: "The Duchy Home Farm was involved in short trials of organic carrots with Sainsbury's but after a four week period decided to stop selling them after difficulties in packaging, distribution and storage."


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