‘Zealous’ US taxman dukes it out with Prince Harry

World

‘Zealous’ US taxman dukes it out with Prince Harry

The tax requirements in California are nothing like what the duke had in the UK

Victoria Ward

The Duke of Sussex faces a significant financial hit from “zealous” US tax authorities, a financial expert has said, as he warned that the duke and duchess had not “thought through” the high cost of a Californian life.

The couple spent more than $11.5m on an estate in Montecito, where they plan to live and raise their son, Archie, in relative normality. But once the duke has spent 183 days in the US over a three-year period, he will be considered a resident for tax purposes and liable for tax.

David McClure, author of forthcoming book The Queen’s True Worth, said: “California is a high tax state, and he’s likely to get a hit. I don’t think Harry and Meghan have totally thought through the financial consequences of their exit from the royal family. The more their expenditure rises in California, the greater the pressure to generate their income in more downmarket, commercial deals. That’s always been the worry of the Palace.”..

This article is reserved for Sunday Times Daily subscribers.
A subscription gives you full digital access to all Sunday Times Daily content.

Sunday Times Daily

Already subscribed? Simply sign in below.

Questions or problems?
Email helpdesk@timeslive.co.za or call 0860 52 52 00.

Previous Article

Next Article