Prince Charles’ income rockets as sales of his posh nosh range Duchy Originals soar… yet he pays £250,000 less tax
PRINCE Charles’s income has soared to a record £22.5million a year, thanks to his Duchy Originals food range.
But despite his £600,000 earnings increase, he paid less tax as he also spent more.
Charles, who once boasted his business ventures had turned him into a self-made millionaire, gets most of his income from the Duchy of Cornwall, a private estate of land and property he manages.
But his posh Duchy Originals organic food line bucked the sales trend at struggling Waitrose by making £200million for the first time.
Yet, last year he only paid £4.75million in tax, compared with £5million the year before.
Officials said it was because of higher business expenses.
Charles’s record earnings — and spending — were revealed as his accounts were published by Clarence House.
His private secretary, Clive Alderton, said: “The Duchy organic food range is going from strength to strength. It’s another hard, tangible outcome of the Prince of Wales’s work.”
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But his spending also soared, including an extra £300,000 on William, Kate and Harry.
They get £3.5million but will be expected to carry out more duties after Prince Philip retires.
His private “non-official expenditure” went up from £2.75million to £3million. Charles now has a staff of 143.
Clarence House said Chaz could claim tax breaks but voluntarily pays the top rate of 45 per cent.
Tax expert Guy Shone, from , said: “The man in the street may be surprised Charles has paid less tax but that’s the way business works.
“There’s no suggestion he’s done anything wrong.”
Her Maj's £6m lift
THE Queen is to get a £6million funding increase thanks to a record performance by the Crown Estate.
It comes after another boost in taxpayer cash to cover the refurbishment of Buckingham Palace.
Increased revenues from the Estate, which owns properties and land across Britain, will see Her Majesty’s sovereign grant rise by eight per cent from £76million in 2017-18 to £82.2million the year after.
The Queen’s funding is based on 25 per cent of the Estate’s profits, which yesterday hit a record £328.8million due to “years of disciplined market positioning”.