Should Queen Elizabeth Pay Taxes? This and More About Margaret Hedge “Incensed” With Queen’s Counsels

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Not so far ago, the question whether Queen Elizabeth pay tax or not attracts a lot of attention. Especially, after revealing of Paradise Papers, which raised a lot of rumors about tax avoidance.

Nexter.org figure out what actually happened.

Should Queen pay taxes or not?

Source: Getty

Things being what they are, and Queen Elizabeth II isn’t required to pay taxes, by law. However, in 1992, the Queen decided to pay taxes on a voluntary basis, and she continues doing it to this present day. This incorporates all Queen’s wage, Duchy of Lancaster (built up in 1399). The £500 million, it is a value of this private estate.

What are “Paradise Papers”?

One of the biggest financial document leaks “Paradise Papers” not only exposed the truth about the world’s richest people but had questioned Queen’s finances as well. Especially, the enclosure made by the Duchy of Lancaster got the attention of the masses. The papers uncovered that monarch invested £10 million into the assets to the Cayman and Bermudas Islands. Remarkably, both of this Islands, as well as British Overseas Territories, don’t have corporation tax.

Source: International Consortium of Investigative Journalists

Why Margaret Hedge was “Incensed” with Queen’s counsels?

As stated above, the investments hadn’t gone unnoticed and got serious criticism by British. “There is a conflict because “as a royal” she should not be lobbying for projects that serve her monetary self-interest.” Margaret Hedge claimed that she was “incensed” with Queen’s counsels who made on such a poor venture choice.

The Leader of the Labour Party even said that Queen should apologize, still, there are no indications of an offense.

Specifically, the Queen pay cess on her private wage, for example, her investments. Moreover, she settles regulatory obligations on some profit and capital gains from the Privy Purse ( which is part-financed by the Duchy of Lancaster). The Duchy in one financial year brings £19.2m  so if the Queen had to pay taxes by law she could have to pay taxes over £8m. However, this stream of profit is disregarded for tax purposes since it is used for her official work.

Source: Getty

Hope this article was informative for you, and shed light on the issue of whether Queen Elizabeth pay taxes or not.


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Should Queen Elizabeth Pay Taxes? This and More About Margaret Hedge “Incensed” With Queen’s Counsels
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Should Queen Elizabeth Pay Taxes? This and More About Margaret Hedge “Incensed” With Queen’s Counsels
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Not so far ago, the question whether Queen Elizabeth pay tax or not attracts a lot of attention. Especially, after revealing of Paradise Papers, which raised a lot of rumors about tax avoidance.
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