The Prince of Wales and The Duchess
of Cornwall

The Duke and Duchess of Cambridge

Prince Harry

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Why doesn't the Duchy of Cornwall pay corporation tax?

 

The Prince pays Income Tax voluntarily on the surplus of the Duchy of Cornwall at the highest rate, which was 50 per cent in 2012-13, resulting in a total of £4.4million (including an element of VAT).

The Duchy is not a company and is not therefore liable to pay corporation tax and The Prince is not entitled to receive any capital gains from the Duchy, and therefore does not pay Capital Gains Tax.