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Prince William pays up to £7m in tax despite exemption

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Prince William pays up to £7m in tax despite exemption
Key Points
  • Prince William reportedly pays between £5m and £7m in income tax on Duchy of Cornwall earnings despite legal exemption.
  • He has declined to disclose his tax contributions, unlike his father King Charles III who voluntarily disclosed £5.9m in 2021-22.
  • The Duchy of Cornwall, established in 1337, is worth £1.1b and generates over £20m annually; it has charged public bodies for land use.

William has declined to disclose his tax contributions in the past. His father, King Charles III, voluntarily disclosed paying £5.9 million in income tax on Duchy earnings in his final year as heir, but neither has made their tax arrangement public since.

William is understood to pay the top rate of 45% on his Duchy income. The Duchy of Cornwall, established in 1337 to provide income for the heir to the throne, is a private estate worth approximately £1.1 billion generating over £20 million annually. According to the Sunday Times, the Duchy has generated millions by charging public bodies such as the NHS, armed forces, and schools for land use.

The exact amount of William's tax bill has not been confirmed, and it remains unclear whether he will follow his father's example by voluntarily disclosing his tax arrangements.

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Prince William pays up to £7m in tax despite exemption | Reed News