Prince Charles, Unfair Advantage Over Competition

[Suzy Ross 236]

Prince Charless burgeoning estate of land, properties and businesses, which generate £19m of personal income each year, should be investigated for tax purposes, an influential committee of MPs has claimed.

The Treasury has been urged to look at whether the Duchy of Cornwall has an unfair advantage over commercial rivals, because its royal status gives it exemption from corporation tax and capital gains tax.

In a far-reaching report on the Duchy of Cornwalls accounts, the House of Commons Public Accounts Committee (PAC) called for the Princes income tax arrangements to be opened up to scrutiny to improve transparency.

In the past financial year, the Duchy of Cornwall generated £28.8m and the Prince received an income of £19m, up 4 per cent on the year before. The money is partly used to fund his official duties and the Prince voluntarily pays income tax on the cash left after costs, about £9.2m last year.

The combined total of income tax and VAT paid by the Prince of Wales was £4.4m, the report said. This amount was not broken down into its two elements and so it is not [clear] precisely how much, and what rate of, income tax is paid by the Prince of Wales (though we acknowledge the duchy having told us that the vast majority of the £4.4m is income tax).

Labours Margaret Hodge, who chairs the committee, said: The Treasury does not do enough to properly scrutinise the duchys finances. It relies on the duchy to provide it with accurate information without carrying out its own independent checks.

The duchy enjoys an exemption from paying tax even though it engages in a range of commercial activities. This tax exemption may give it an unfair advantage over its competitors who do pay corporation and capital gains tax.

As well as accusing the Treasury of failing properly to scrutinise the duchys finances, MPs called for the duchys centuries-old charter, which gives its tax-exempt status, to be reformed, claiming it has not kept pace with constitutional change because it can only be passed to a male heir.

Prince Charless wealth is mostly derived from the duchy, which was established by charter in 1337 when Edward III made his son Duke of Cornwall. Its main function is to provide the heir to the throne with an income independent of the sovereign.

[paulus 26]

he is also paying for Camilla. and his two sons out of his own income something that would cost the taxpayer far more than they would gain if the arrangement was overturned, he also pays tax unlike, google.starbucks etc

[Suzy Ross 236]

That's true paulus but the poor guys trying to make a living, competing against him deserve an equal playing field.

[paulus 26]

That's true paulus but the poor guys trying to make a living, competing against him deserve an equal playing field.

if they are willing to also share the costs for Camilla, Harry, william.kate and George then they have a point

[Rake aboot 4,935]

What, ?? You mean like my son,? Competing for work against Polish joiners, undercutting every job because they don`t pay tax or N.I and will work for peanuts ??

 

 

Is that the kind of unfair competition you mean ?

 

 

At least the Duchy is a British institution

[Suzy Ross 236]

 

 

That's true paulus but the poor guys trying to make a living, competing against him deserve an equal playing field.

if they are willing to also share the costs for Camilla, Harry, william.kate and George then they have a point

Pmsl

[Suzy Ross 236]

What, ?? You mean like my son,? Competing for work against Polish joiners, undercutting every job because they don`t pay tax or N.I and will work for peanuts ??

 

 

Is that the kind of unfair competition you mean ?

 

 

At least the Duchy is a British institution

Unfair competition is unfair no matter the level. Your happy for it to happen as long as its not against your family, is that what your saying?

[cookiemonsterandmerlin 145]

he is also paying for Camilla. and his two sons out of his own income something that would cost the taxpayer far more than they would gain if the arrangement was overturned, he also pays tax unlike, google.starbucks etc

Does that include having to stick one in Camilla

[Rake aboot 4,935]

 

What, ?? You mean like my son,? Competing for work against Polish joiners, undercutting every job because they don`t pay tax or N.I and will work for peanuts ??

 

 

Is that the kind of unfair competition you mean ?

 

 

At least the Duchy is a British institution

Unfair competition is unfair no matter the level. Your happy for it to happen as long as its not against your family, is that what your saying?

 

 

Nope. I`m saying get your priorities right.

 

Charles CONTRIBUTES a massive amount of money to the British tax system and to the economy in general.

 

If he gets a few perks because he is our FUTURE KING, then so be it.

[Astanley 11,568]

That hit man for Diana cant have been cheap ,

[Suzy Ross 236]

 

 

 

What, ?? You mean like my son,? Competing for work against Polish joiners, undercutting every job because they don`t pay tax or N.I and will work for peanuts ??

 

 

Is that the kind of unfair competition you mean ?

 

 

At least the Duchy is a British institution

Unfair competition is unfair no matter the level. Your happy for it to happen as long as its not against your family, is that what your saying?

Nope. I`m saying get your priorities right.

 

Charles CONTRIBUTES a massive amount of money to the British tax system and to the economy in general.

 

If he gets a few perks because he is our FUTURE KING, then so be it.

Get my priorities right? Pmsl, it's today's news, this is the general section to discuss GENERAL issues, if your not happy with what I'm highlighting to discuss then don't, simples. As for him getting a few perks, if those perks come at the expense of folk working in the same field as his, I think it needs looked into, don't you?

[forest of dean redneck 11,598]

You should feel sorry for him,his farms lost lot of money.ensors slaughterhouse went bust,owing him.

http://www.thisisgloucestershire.co.uk/5-8m-owed-Forest-Dean-abattoir-county-suppliers/story-20024505-detail/story.html#axzz2jlExNg4G

[Malt 379]

Nothing more than a shadow minister wanting to make a bit of noise IMO..

[Banter 1,751]

 

he is also paying for Camilla. and his two sons out of his own income something that would cost the taxpayer far more than they would gain if the arrangement was overturned, he also pays tax unlike, google.starbucks etc

Does that include having to stick one in Camilla

 

he deserves a medal for that lol

[Suzy Ross 236]

You should feel sorry for him,his farms lost lot of money.ensors slaughterhouse went bust,owing him.

http://www.thisisgloucestershire.co.uk/5-8m-owed-Forest-Dean-abattoir-county-suppliers/story-20024505-detail/story.html#axzz2jlExNg4G

The thing is though, it's not really his in the first place is it? Not like he built it up from scratch. It goes back to the 1300's when the king decided to take land etc off poor folk like us to give his son a bit of an egg nest out with the money they take out of the tax paying purse. To say its his personal income is a bit farcical. It's just stolen land and businesses passed down the generations from father to son to make them look like one of us. Apart from having to pay tax on it obviously, wouldn't want that, heaven forbid.