Quote:
Originally Posted by pip08456
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.
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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?
Quote:
Originally Posted by Chris
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.
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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