Meghan Markle TAX NIGHTMARE: Is Meghan’s ROYAL income TAXED by American government?
MEGHAN Markle married into the British royal family earlier this year, but the Duchess of Sussex is still considered an American citizen and has to pay tax accordingly.
- Kate and William make 'deliberate move' to turn spotlight on George, Charlotte & Louis
- Prince George 'to make a very good king' thanks to Prince William and Kate training
- Kate 'pillar of strength' for William as he faced 'a really hard time with his brother'
- Kate Middleton shows off new £9,000 diamond necklace in anniversary portrait with William
- Kate Middleton gives 'hidden nod' to Princess Diana with 'timeless' fashion choices
- Kate and Prince William ignore Royal Family tradition to be closer to their children
Is Meghan’s royal income taxed by the American government?
Despite marrying into one of the most famous British families, Meghan is still an American citizen. And the Duchess of Sussex is now facing a tax nightmare as US officials are looking into whether Meghan and husband Prince Harry owe the American government a slice of their fortune.
- Royal officials 'who sneered about Kate' will now be the ones 'bowing lowest to her'
- William promised to be silent while Harry boosted global fame through Vax Live appearance
- 'I gasped!' Kate Middleton's 'hand was shaking' as she revealed Princess Diana's ring
- Kate voiced concern after Prince Harry bypassed tradition with Meghan Markle proposal
- Mike Tindall played pivotal role in helping Zara recover from huge 'disappointment'
- Kate Middleton 'perfectly at home in Balmoral' before Meghan snubbed visit
Because of her marriage to the British Prince, both the Duke and Duchess of Sussex tax returns to the US are being looked into.
This means the royal power couple may have to pay tax on not only Meghan’s $5million (£3.9million) but also Prince Harry’s main source of private wealth, a yearly £300,000 trust fund on which he pays UK income tax.
Prince Harry’s money comes from a £20million inherited trust fund from Princess Diana and the Queen Mother.
Even Queen Elizabeth and Prince Charles’ finances could face scrutiny under the American tax rules, because they provide funding and support for the couple.
Royal aides told the Sunday Express: “We’re looking at a level of financial exposure the Royal Family has never had to face before.
“It’s the royal household’s worst nightmare.”
- ‘Cut-rate Ed Sheeran!’ Prince Harry’s ‘evangelical’ concert speech ridiculed by radio host
- Meghan Markle’s standing ovation claim debunked by video before Harry’s Vax Live event
- Meghan Markle 'spent awful lot of time' with 'big binder of notes' on Royal Family life
- ‘Staggering hypocrisy!’ Piers Morgan fumes at Meghan Markle for book about father-son bond
- Meghan Markle ‘didn’t anticipate’ difficulties of royal life – ‘Couldn’t hack it’
- Queen Kate Middleton: New poll shows more than 75 percent of UK backs Duchess as Queen
Guidance notes to US citizens like Meghan state: “You are generally taxed on income available to you, regardless of whether it is in your possession.”
This means it’s not only the Duke and Duchess of Sussex’ money that will be taxed.
Their jewellery and designer outfits are also subject to tax return.
Even the couple’s home, Nottingham Cottage in Kensington Palace, will be looked at.
One former aide explained: “Everything has to be declared.
“That means a level of fiscal openness and scrutiny the Royal Family are not used to.
“There is a very comfortable relationship between the Palace and the HMRC where the Royal Family volunteers to pay some tax and the taxman is very grateful.”
Buckingham Palace will reportedly recruit a team of US financial experts to assist with Meghan’s tax returns.
The Duchess of Sussex is currently on a Leave to Remain visa, an immigration status granted to a person who does not hold the right of abode in the UK, but who has been admitted to the UK without any time limit on his or her stay and who is free to take up employment or study.
Kensington Palace said of Meghan’s visa: “Ms. Markle has taken full legal advice on her right to remain in the UK and will be fully compliant with all requirements at all times.
“She will go through the normal visa process.
“Ms. Markle intends to become a British citizen going through the normal process, which will take a number of years.”