From: DS
To: Jeffrey Epstein <jeevacation@gmail.com>
Subject: BBC
Date: Sat, 20 Jul 2013 18:19:44 +0000
15 July 2013 Last updated at 18:16 Share Fa T Email Print
Prince Charles's aide grilled by MPs over tax affairs
The Prince of Wales is not liable to pay Rine Duke and Duchess of Cornwall
corporation or capital gains tax, a senior
royal aide has told MPs on the Public
Accounts Committee.
William Nye said the Duchy of Cornwall -
which provides the heir to the throne with a
private income - was not a corporation and that
the prince voluntarily pays income tax.
The prince uses the duchy to fund his and his
Committee chairwoman and Labour MP
wife's public duties
Margaret Hodge questioned the "fairness" of
the tax arrangements.
Related Stories
The duchy estate is worth £762m.
The prince was paid £19m from the estate last year and paid just over MP presses Charles
£4m in income tax and VAT. on Duchy tax
Funding for Prince
Mrs Hodge said the committee wanted to "reflect on the current Charles falls
arrangements to see whether or not they reflect the reality of the world
HMRC 'must fully
today."
investigate' Google
But the royal aide said the prince's estate does not pay capital gains tax
because he "doesn't have access to the capital gains. The capital gains
are all reinvested in the duchy for future dukes".
Mr Nye told MPs the profits were used to pay for the prince's public
duties, as well as those of his wife the Duchess of Cornwall and those of
Prince William, the Duchess of Cambridge and Prince Harry.
He said that if parliament legislated to prevent Prince Charles using his
private income in this way it would cost taxpayers more - to pay for his
official duties - and he would be free to spend his money "on his other
things".
'Taxed twice'
Paula Diggle, a senior Treasury official appearing before the committee,
defended the prince's tax arrangements saying that he does not pay Start Quote
capital gains tax because he always reinvests any profit from sales.
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"If the duke were to be taxed on the corporate income of the duchy as What was a
well as his income, he would be taxed twice," she said. medieval entity... has
been transformed
She added that the duchy differed to other corporations because the into a business."
prince "is in the unusual position of getting all the income."
Austin Mitchell
The duchy estate of land and property - mostly in the south-west of Labour MP
England - was established by King Edward III in the fourteenth century
to provide a private income for his son and heir to the throne.
Conservative MPs on the committee defended Clarence House's
position that the duchy is in fact a private estate, not liable to certain
taxes.
"If it looks like a private ducal estate set up to provide an heir to the
throne and it quacks like a private ducal estate set up to provide an heir
to the throne, can one assume that it might just possibly be a private
ducal estate set up to provide an heir to the throne?", Richard Bacon
asked.
But Labour MP Austin Michell said: "What was a medieval entity... has
been transformed into a business."
Force government action
The last time Prince Charles's representatives came before the Public
Accounts Committee they were accused of performing financial
"jiggery pokery" and he was said to be the recipient of the "best housing
benefit scheme in the world".
This time the committee is fresh from finding the tax affairs of Google,
Starbucks and Amazon wanting.
Graham Smith, chief executive of the anti-monarchy group, Republic,
said: "Everyone has a moral obligation to pay a fair rate of tax, whether
that's Starbucks, Google or the heir to the throne.
"We welcome the PAC investigation and hope that this exposure of the
duchy's tax arrangements will force the government to act."
Earlier this month, the prince faced calls from Andrew George, the
Liberal Democrat MP for West Cornwall, to "come clean" about the
Duchy of Cornwall's tax arrangements.
Clarence House has said public funding for the Prince of Wales fell by
£lm to £1.2m in the last financial year, out of a total income of £20.2m.
On 20 Jul 2013, at 19:05, Jeffrey Epstein <jeevacation@gmail.com> wrote:
Cell
On Saturday, July 20, 2013, wrote:
When can I call you ?
EFTA00965494
From: Jeffrey Epstein <jeevacation@gmail.com>
Date: Sat, 20 Jul 2013 11:43:08 -0400
To: David Stem<
Subject:
not sure yet, but got a call re i rumor of inquiry in PA taxes?
The information contained in this communication is
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The information contained in this communication is
confidential, may be attorney-client privileged, may
constitute inside information, and is intended only for
the use of the addressee. It is the property of
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Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
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