Re: Buckingham Palace to get £369million modernisation works
 

Crown Estates don't pay taxes as such as all the income comes directly to HMG, 15% of the income is then paid to the Monarch as that was the deal when the estates were handed over to the Government.

Then again Crown Estates could employ special Tax accountants to look at the income to see how they could screw they tax system and perhaps put all the income via a shell company in the Camen Islands so the Government would not be liable for any taxes due to the Customs and Excise arm of the Government.

Re: Buckingham Palace to get £369million modernisation works
 

It sounds like you don't really understand how the Crown Estate works.

Buckingham Palace does not belong to Elizabeth Windsor. It belongs to the Crown and is part of the Crown Estate. The Crown Estate owns land and buildings all over the UK and generates income from them. The income net of running costs is paid to the treasury. The treasury gives 15% of that income to the Queen and she uses that to pay for the Royal Family's running costs. This includes the costs of running the houses they live in. She doesn't own them, nor does she rent them. They are a perk of the job, but a perk she is responsible to maintain day-to-day. Exceptional costs, however, are not expected to be covered out of the usual allowance from the estate. Repairs to Windsor Castle after the fire in 1992 were paid for by donations, by opening Buckingham Palace to the public and by £2 million of the Queen's private income. It's a catastrophe like that that is part of the reason it's imperative that we get this work done rather than using it as an excuse for the usual republican suspects to have a whinge.

To reiterate: the Crown Estate does not pay tax on its profits. *All* its profits are paid to the exchequer, and 85% of its profits remain with the exchequer, to be allocated and spent in the same way as all other government income.

Re: Buckingham Palace to get £369million modernisation works
 

Yes they could do that but then we could lop her head of like one of her unfortunate predecessors, so the 85% is staying with the people then, it's not being cut at all?

Sounds like you don't get jokes, my mistake I should've stuck a smiley face at the end instead of two exclamation marks and to reiterate the 85% is remaining with the exchequer then, it's not being cut at all

Re: Buckingham Palace to get £369million modernisation works
 

How can the agreed income be cut? The Govenment get 100% then hand over 15% as per the agreement.

Then problem people percieve is that the income from the Crown Estates has risen far above inflation and the Government is making millions per year from it.

By the same token the Monarch's 15% is worth more as well. Republicans only look at the headline figure paid, not where it comes from.

No "Taxpayers" money is paid to the Monarch.

Re: Buckingham Palace to get £369million modernisation works
 

Are the government not handing over 25% from now on

Re: Buckingham Palace to get £369million modernisation works
 

No. The agreement cannot be modified by either party. The ONLY change that can be made is that the Crown Estate is handed back to the Monarch and that won't happen as it is a cash cow for the country.

Last year the Crown Estate's property evaluation was £12 billion with a £304.1 million net revenue profit

Re: Buckingham Palace to get £369million modernisation works
 

The Crown Estate is run quite agressively commercially. Trust me I know.

Re: Buckingham Palace to get £369million modernisation works
 

What do you expect? It's Government owned and run, they want to squeeze every penny out of it.:D

Re: Buckingham Palace to get £369million modernisation works
 

You'd better tell that to the trustees including the pm and chancellor then as they think different

http://www.bbc.co.uk/news/uk-38025513

Re: Buckingham Palace to get £369million modernisation works
 

It's a temp rise to pay for the repairs ,the usual 15% will still be used to run the royal household

Re: Buckingham Palace to get £369million modernisation works
 

:rofl:

Yeah course it is, 50p says it's still at 25% in ten years, if anyone believes different I've got some magic beans you might be interested in

Re: Buckingham Palace to get £369million modernisation works
 

Typical political gobblydigook. Why don't they just tell it how it is. 10% of Crown estate income will be spent on the refurbishment.

Even the BBC report is disingenuous.

and the quite rightly

Re: Buckingham Palace to get £369million modernisation works
 

I would expect so given the refurbishment is over the next 10 yrs and i'll bet any money it takes longer

Re: Buckingham Palace to get £369million modernisation works
 

Meanwhile back in the real world...
http://www.huffingtonpost.co.uk/entr...b09025ba32a16b

Re: Buckingham Palace to get £369million modernisation works
 

Indeed. The cost of repairing Buck House is little more than a rounding error by comparison.

Re: Buckingham Palace to get £369million modernisation works
 

Don't worry! In our new post-truth world, this sort of thing can't happen.