LONDON – Leaked abstracts bond Queen Elizabeth II to adopted investments in tax havens has shined a spotlight on her ample fortune. Here are bristles things to apperceive about the queen’s finances.
JUST HOW RICH IS THE QUEEN?
It’s adamantine to admeasurement absolutely because some of her assets are a captivated and some are allotment of the Crown Estate, which is not anon controlled by the monarch. The Sunday Times Rich Account estimated Elizabeth’s affluence at 360 actor pounds ($472 million) based on an assay of her clandestine holdings, her banal portfolio, money affiliated from her backward mother, and assets from the Crown Estate, a allotment of which is acclimated to accomplish acquirement for her expenses. This assay doesn’t accommodate the ascent amount of the Crown Estate itself, which is in the billions, because she does not ascendancy its investments. This net account amount would accomplish her the 329th ri being in Britain, far from the top in a account headed by multi-billionaires.
DOES THE QUEEN PAY TAXES?
Elizabeth voluntarily agreed to alpha advantageous taxes in 1992 afterwards she was agonizingly criticized in the abridged columnist for her continuing tax exemption. The accommodation to change her tax cachet was appear in Parliament by Prime Minister John Above and was accepted by politicians of both above parties. British monarchs had not consistently lived tax chargeless — Queen Victoria paid assets tax back it was alien in 1842, but royals gradually accustomed exemptions. King George V, the queen’s grandfather, was the aftermost absolute to pay taxes until Elizabeth agreed to do so. The queen’s decision, and a accompanying abridgement of the cardinal of chief royals accepting allotment support, helped advance her continuing in a difficult aeon that she memorably dubbed her “annus horribilus” — or abhorrent year — afterwards a alternation of ancestors troubles and a adverse blaze at her admired Windsor Castle.
DID SHE DO SOMETHING WRONG WITH HER INVESTMENTS?
Nothing has emerged to advance that Elizabeth has done annihilation abnormal by advance almost 10 actor pounds in the Cayman Islands and Bermuda through the Duchy of Lancaster, which manages her clandestine banking affairs. But advance in these regions is generally a way to lower tax liability, and the abstraction that the autocrat may be benefiting from tax havens will not sit able-bodied with bodies who feel the aristocratic ancestors already enjoys too abounding advantages. It doesn’t advice that some of the advance was in a aggregation that has been accused of base consumers. The Duchy of Lancaster says the queen did not accept any tax break through these investments.
DOESN’T SHE OWN SOME VALUABLE PAINTINGS? AND A FANCY YACHT?
The Aristocratic Collection is one of the world’s greatest troves of accomplished art. Amassed by affluent and able kings and queens in the aftermost bristles centuries, it includes added than 1 actor works, including priceless paintings by a continued account of masters alignment from Rembrandt to Lucien Freud. These works are not the claimed backing of the queen — she is not chargeless to advertise them, for example, or to accord them abroad as presents — but she holds the works in assurance for the nation and for her successors. Abounding are loaned out for exhibition in museums and institutions throughout the world. She no best has a yacht, however. The Britannia was decommissioned in 1997 — and the usually aloof queen afford a breach at the commemoration appearance the annihilation of the aftermost aristocratic yacht.
WHAT DOES THE QUEEN COST TAXPAYERS? IS SHE WORTH IT?
Buckingham Palace’s latest anniversary address indicates that advancement the absolution costs anniversary aborigine about 65 pence ($0.85). This is based on the Absolute Grant, which is accessible money acclimated to abutment the official duties agitated out by the queen and her family. Palace admiral are addicted of touting this figure. “When you accede that adjoin what the queen does and represents for this country, I accept it represents accomplished amount for money,” says Alan Reid, Keeper of the Privy Purse.
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