Prince William, who faced several difficulties at the start of 2024 with King Charles and Kate Middleton’s cancer diagnoses, is set to embark on a new project.
Prince William and Income Tax
William is a working member of the Royal family but does not earn a regular income. It is the Duchy of Cornwall, an estate created by King Edward III in 1337, that provides funds to Prince William. This enormous estate, valued at over $1 billion, covers 130,000 acres in 23 counties in England and Wales and consists of land, farms, dwellings, and other assets to provide support to the heir to the throne and their family.
William is reportedly required to pay income tax on the total amount of money he receives from the Duchy of Cornwall after deducting business-related costs.
While the estate garnered $29 million, William received only a portion of it since he inherited the title and estate in the middle of the year.
Out of the $29 million, William spent over $7.4 million on buying the home after the estate asked to retain over $8.67 million of his share for “working capital purposes,” Page Six reported.
Also Read: Prince William ‘furious’ with Prince Harry over ‘blatant attack’ on Kate Middleton
What about King Charles and Prince Harry’s Wages?
Meanwhile, King Charles received a $14.225 million payout.
Prince Harry, the Duke of Sussex, will turn 40 on September 15 and is set to get an astounding monetary gift.
According to reports, the father of two will get an incredible $8.5 million from his portion of the $90 million trust fund that his late great-grandmother, The Queen Mother, established prior to her passing in 2002.
The substantial amount is apparently more than what William is expected to get.