King Charles and Prince William’s respective private estates donate hundreds of millions each year to charities and public services in the UK.
An investigation led by The Sunday Times And broadcaster Channel 4 examined the Duchy of Lancaster and the Duchy of Cornwall – estates owned by the monarch, 75, and her eldest son, 42.
On Saturday, Channel 4 aired the documentary, titled “Kings, Princes and Their Secret Millions” In which he revealed shocking findings about the two tax-exempt statuses.
The following day, the Sunday Times published documents supporting the findings.
Amid numerous allegations, it was found that Charles and William’s private estates were siphoning millions from public institutions, including the National Health Service, state-funded schools and the British Armed Forces.
The Duchy of Lancaster is owned by a cancer-stricken sovereign. It includes vast acres of land, properties and assets across Britain and dates back to the 14th century.
Similarly, the Duchy of Cornwall is an estate that provides income for the heir to the throne.
The Prince of Wales inherited the property – worth more than $1 billion – when his father. Took the throne In September 2022.
Both states are exempt from paying corporation tax or capital gains tax.
The program alleged that William’s estate claimed more than $28.5 million since 2005 in rent payments for Camelford House, as well as $78,000 in payments from St John’s Ambulance – of which Charles is a patron.
Back in June, William was spotted visiting the MI6 headquarters – located in central London next to Camelford House. At that time no one knew the nature of his visit.
What’s more, the report claims that the King’s estate last year signed on the dotted line to stock a new fleet of electric ambulances in its warehouses for $14.7 million over 15 years.
In addition, William’s estate received $1.3 million from the British Navy in 2004 to build the Jetty and Moore warships in Cornwall.
Other consequences included royal families charging fees for the right to cross rivers and run cables under their coasts.
They also earn passive income from tolls, parking lots and wind turbines, the investigation found.
The document also contains a series of examples showing that William’s property contradicts the values set out in his Earth Shot Prize.
The campaign, founded by Future King in 2020, focuses on highlighting effective ways to protect the planet.
The findings also revealed a $48 million deal by the Duchy to lease Dartmoor Prison in England to the Ministry of Justice.
The two estates have raised about $65 million through deals in the past year, the doctor added.
In response to the inquiry, a spokesperson for the Duchy of Cornwall told The Post, “The Duchy of Cornwall is a private estate with a commercial imperative to support our efforts to restore the natural environment and create positive social impact for our communities. Achieve with determination.
“Prince William became the Duke of Cornwall in September 2022 and has since undertaken an extensive overhaul of the Duchy.”
He added: “This includes a significant investment to make the estate net zero by the end of 2032, as well as establishing targeted mental health support for our tenants and tackling homelessness in Cornwall. to work with local partners,” he added.
The Post has reached out to Buckingham Palace for comment.
Earlier this year, William’s $30 million salary was revealed. He received income from his Duchy of Cornwall estate during the 2023–2024 financial year.
gave Integrated Annual Report revealed a $30.4 million surplus for the 2023-2024 fiscal year, as well as William’s new Duke of Cornwall title.
However, the father-of-three raised eyebrows by refusing to pay taxes for the 2023-2024 financial year – breaking with his father’s tradition spanning more than 30 years.
Credit : nypost.com
