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UK Prince to inherit £10mn for 30th birthday present

Published time: July 01, 2014 11:07
Edited time: July 01, 2014 12:55
Britain's Prince Harry (Reuters / Hyoung Chang)

Britain's Prince Harry (Reuters / Hyoung Chang)

​Britain's Prince Harry is about to inherit £10 million from his late mother Princess Diana on his 30th birthday September 15. Along with his status as a royal it makes him one on the most eligible bachelors in the world.

However, he won't be able to pocket it all as the sum will be taxed at 40 percent, the Daily Mirror says.

ARCHIVE PHOTO: Princess Diana (L) and her son Harry. 19 August, 1995 (AFP Photo)

The value of the legacy is over the Inheritance Tax threshold of £325,000 ($555,000), which includes any assets held in trust or gifts made within seven years of death, and therefore should be reduced by almost half according to the UK’s tax authority.

That means that the royal will get only £6 million, or $10.2 million.

Another option for him will be to donate a portion to charity, which will reduce the tax rate to 36 percent.

There is no way Harry would dodge the tax,” the Mirror quotes a royal insider. “There are few similarities between the average person and Harry and William but when it comes to tax, they also have to pay their way.

Prince Harry earns £38,847 a year as an Army captain.

Harry was 12 when his mother Princess Diana was killed in a road crash in Paris in 1997. Then she left £12,966,022 which was reduced to £8,502,330 after death duties. However insiders believe the sum has since soared to more than £20 million, thanks to clever royal investment management.

Princess Diana also got a huge amount in her divorce from Prince Charles in shares, jewelery, cash, and personal items from her Kensington Palace home. Her wealth was shared equally between her two sons.

Comments (34)

 

Andrey 65 02.07.2014 15:03

What's the big deal? I did not think 10 mn would make anybody "one on the most eligible bachelors in the world": not in this century!

 

DoAskDoTell 02.07.2014 09:07

so far... British monarchy *money* never dies (thanks to American $ubsidie$ after WWs), it just concentrated to the Klepo-Oligarchs via *divine rights/ idol worship* over clueless low-self-esteem infantile slave$

Mona rchs can prove their usefulness working for charity visits to the old/sick/kids/disabl es/unfortunates on weekdays ... not just kissing money class

 

CiaranB 02.07.2014 08:47

02.07.2014 08:27


They also provide immense prestige to Britain all over the world, and their benefits on the diplomatic level are immeasurable. The fact of the matter is they are excellent value for money!

  


Emmett, the facts and data doe's not support your view, these people are nothing more than child abusing, child killing disgusting parasites that have been sucking the life energy out of humanity since the dawn of time, people who are so devoid of self they believe they are superior to humanity and a different species altogether and mean to do us all harm through global depopulation.

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