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| Prince Charles's tax affairs come under scrutiny by MPs | Prince Charles's tax affairs come under scrutiny by MPs |
| (about 5 hours later) | |
| The tax affairs of the Prince of Wales and the Duchy of Cornwall are being examined by an influential set of MPs. | |
| Prince Charles's most senior official, William Nye, has been called to give evidence to the Public Accounts Committee. | |
| The committee will consider whether the prince is paying his fair share of tax and explore why the duchy does not pay corporation tax or capital gains tax. | The committee will consider whether the prince is paying his fair share of tax and explore why the duchy does not pay corporation tax or capital gains tax. |
| It is only the second time that royal accounts have been examined this way. | It is only the second time that royal accounts have been examined this way. |
| 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". | 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. | This time the committee is fresh from finding the tax affairs of Google, Starbucks and Amazon wanting. |
| The Duchy of Cornwall provides the heir to the throne with a private income. | The Duchy of Cornwall provides the heir to the throne with a private income. |
| Royal officials argue the duchy is a private landed estate, not a corporation or a public body, so it is exempt from capital gains tax. | Royal officials argue the duchy is a private landed estate, not a corporation or a public body, so it is exempt from capital gains tax. |
| They also say Charles pays income tax on the money he receives from the hereditary estate after business expenses have been deducted. | They also say Charles pays income tax on the money he receives from the hereditary estate after business expenses have been deducted. |
| 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. | 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." | "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. | 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. |
| The duchy is a £762m estate of about 131,000 acres, mostly in the south-west of England, from which the prince received a record £19m last year. | The duchy is a £762m estate of about 131,000 acres, mostly in the south-west of England, from which the prince received a record £19m last year. |
| Clarence House has said public funding for the Prince of Wales fell by £1m to £1.2m in the last financial year, out of a total income of £20.2m. | Clarence House has said public funding for the Prince of Wales fell by £1m to £1.2m in the last financial year, out of a total income of £20.2m. |