wanted to know about a power of attor...

wanted to know about a power of attorney,

Posted in the Georgetown Forum

lots to know

Georgetown, Canada

#1 Jan 19, 2014
lots to know

Georgetown, Canada

#2 Jan 19, 2014

Toronto, Canada

#3 Jan 19, 2014
Queen Elizabeth II and Prince Charles are exempt from corporation, capital gains and inheritance tax. They are also exempt from civil law so tenants have no recourse.

But the British tax payers have to cough up at least £150 million ($300 million) a year to support the British royal family. Running the monarchy costs the Queen's subjects an estimated £37 million ($74 million) a year. This includes the upkeep of Balmoral, Buckingham Palace and Windsor Castle.

Prince Charles' Duchy of Cornwall estate was worth £505 million ($1 billion) in 2005. The Duchy of Cornwall, which Prince Charles was given on his 21st birthday by his mother, Queen Elizabeth II, compromises 70,000 acres of Devon, 18,000 acres of Cornwall, a further 15,000 acres of Somerset and most of the Isles of Scilly.

The Queen is one of the richest women in the country. She gave Gatcombe Park to Princess Anne and built Sunninghill Park for Prince Andrew. Sunninghill Park is now worth £8.5 million ($17 million) and she's handed it over to Andrew who didn't have to pay the stamp duty which most Queen's subjects have to pay.

If the Queen ever sells a property, she doesn't have to pay capital gains tax because she's exempt from that as well. She and Prince Charles are also exempt from corporation tax, which means they don't have to pay tax on profits from their own estates.

Prince Harry is already worth £25 million ($50 million) and Prince William will one day inherit most of Prince Charles' wealth.

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