A royal couple struggling with tax problems



[ad_1]

The American citizenship of Meghan Markle could cost a fortune to the royal family.

The new Duchess of Sussex is still a US citizen, even though she married Prince Harry earlier this year and officially asked to become a British subject – a process that could take several years to become effective.

As a result, she still has to pay taxes in the United States on any income earned or benefits received, reports the British press.

• The suburbs in the process of disaster

• The city enriches the owners

• "A risky business": a million dollars

This means that all the royal profits enjoyed by Meghan, 37, could be on the radar of tax agents, including gifts, houses and even her clothes – in addition to her own fortune of $ 6.8 million Australian drawn from her acting career.

And as a spouse, it also means Prince Harry's income could be affected, including his A $ 35 million trust fund created by Princess Diana and the Queen Mother.

Prince Harry, 34, earns about A $ 526,800 a year from this inheritance and already pays an annual tax on that money in the UK.

However, as this money is now also available for his wife Meghan, he could also count for his income.

Prince Charles and the Queen could also be caught in fiscal problems, as they also provide financial support to the royal youths.

The royal staff said theSunday Express the situation was unprecedented.

"We are looking at a level of financial risk that the royal family has never had to deal with before," the contributors said.

"This is the worst nightmare of the royal family … everything must be declared.

"It means a level of tax openness and surveillance that the royal family is not used to.

"There is a very comfortable relationship between the palace and the HMRC, where the royal family volunteers to pay a tax and the tax collector is very grateful to him."

According to the British media, the royal couple might be forced to declare more than just money, jewelry, designer clothes and even their home in Kensington Palace likely to be the subject of an investigation tax.

The mirror reports that the Royal Family will hire several US tax experts to help them manage the situation and prepare Meghan's tax returns.

The Kensington Palace previously announced that Meghan was following the "normal visa process" to become a British citizen via an authorization visa to stay, which allows the holder to stay indefinitely in the UK, with no limit of length of stay, employment or studies.

Meghan, who is expecting her first child early next year, has embraced her new royal role with enthusiasm since her attachment to Prince Harry at a lavish ceremony filled with stars at Windsor Castle in May.

Earlier in the day, she reportedly "bombarded" the royal aides with daily texts at 5am, as she discussed ideas about her role with the staff members.

And earlier this month The sun reported "difficult" Meghan and Kate had clashed over the treatment of staff, with the former Suit star would have kept his employees at "very high standards".

Continue the conversation @carey_alexis | [email protected]

[ad_2]
Source link