This makes him one of Britain’s highest taxpayers, with reports that William pays the highest marginal rate of 45% on his personal earnings. This is despite the fact the first-in-line to the throne has no legal obligation to do this.
As reported by GB News, the estate – which is made up of homes, farms, commercial premises and shops – provides a hefty income for The Prince of Wales, which is believed to be around £20million each year.
Prince William inherited the estate when his father King Charles became King, with the estate having always been intended to provide funds for heirs to the throne.
The Duchy estate was created in 1337 by Edward III for his son and heir Prince Edward.
Prince William became the 24th Duke of Cornwall on The King’s accession in 2023.
It is believed William visits the estate, which spans across 130,000 to 140,000 acres, a lot, and cares about those who live and work on it.
In regard to the income tax Prince William pays, a Kensington Palace spokesman said: “The Prince of Wales pays the top rate of income and capital gains tax on all his personal income, including receipts from the Duchy.”
GB News reports that the prince is allowed to deduct official expenditure before calculating his income tax contribution.
‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source www.express.co.uk ’
