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FINANCIAL ARRANGEMENTS OF THE PRINCE OF WALES
The Prince of Wales does not receive any money from the State. Instead, he receives the annual net surplus of the Duchy of Cornwall and uses it to meet the costs of all aspects of his public and private commitments, and those of Prince William and Prince Harry.
The Duchy's name is derived from the Earldom of Cornwall, which Edward III elevated to a duchy in 1337. The Duchy's founding charter included the gift of estates spread throughout England. It also stated that the Duchy should be in the stewardship of the Heir Apparent, to provide the Heir with an income independent of the Sovereign or the State.
After 660 years, the Duchy's land holdings have become more diversified, but the Duchy is still predominantly an agricultural estate. Today, it consists of around 57,000 hectares, mostly in the South of England. It is run on a commercial basis, as prescribed by the parliamentary legislation which governs its activities.
Prince Charles became the 24th Duke of Cornwall on The Queen's accession in 1952. He is in effect a trustee, and is not entitled to the proceeds of disposals of assets. The Prince must pass on the estate intact, so that it continues to provide an income from its assets for future Dukes of Cornwall.
The Duchy's net surplus for the year to 31 March 2002 was £7,827,000. As a Crown body, the Duchy is tax exempt, but The Prince of Wales voluntarily pays income tax (currently at 40%) on his taxable income from it.
FINANCES OF THE OTHER MEMBERS OF THE ROYAL FAMILY
Under the Civil List Acts, The Duke of Edinburgh receives an annual parliamentary allowance to enable him to carry out public duties. Since 1993, The Queen has repaid to the Treasury the annual parliamentary allowances received by other members of the Royal family.
The annual amounts payable to members of the Royal family (which are set every ten years) were reset at their 1990 levels for the next ten years, until December 2010. Apart from an increase of £45,000 on the occasion of The Earl of Wessex's marriage, these amounts remain as follows:
Parliamentary annuity (not repaid by The Queen)
|
HRH The Duke of Edinburgh |
£359,000 |
Parliamentary annuities (repaid by The Queen)
|
HRH The Duke of York |
£249,000 |
|
HRH The Earl of Wessex |
£141,000 |
|
HRH The Princess Royal |
£228,000 |
|
HRH Princess Alice, Duchess of Gloucester |
£87,000 |
|
TRH The Duke and Duchess of Gloucester TRH The Duke and Duchess of Kent HRH Princess Alexandra, Hon. Lady Ogilvy |
*£636,000 |
* Of the £636,000, £175,000 is provided by The Queen to The Duke and Duchess of Gloucester, £236,000 to The Duke and Duchess of Kent and £225,000 to Princess Alexandra.
As with the Civil List itself, most of these sums are spent on staff who support public engagements and correspondence.
TAXATION
The Queen has always been subject to Value Added Tax and other indirect taxes and she has paid local rates (Council Tax) on a voluntary basis. In 1992, however, The Queen offered to pay income tax and capital gains tax on a voluntary basis. As from 1993, her personal income has been taxable as for any taxpayer and the Privy Purse is fully taxable, subject to a deduction for official expenditure. The Civil List and the Grants-in-Aid are not remuneration for The Queen and are thus disregarded for tax.
Реферат опубликован: 1/08/2006