SHOCKING: Do you know what is Meghan Markle’s Royal Allowance?


You’ll Be Shocked By Meghan Markle’s Potential Royal Allowance

Meghan Markle is set to become an official member of the royal family, which means that the Suits alum’s entire life is about to change in a major way. In addition to being thrust into the spotlight in a way that she never has before, Markle will also have to deal with the headache of being a U.S. citizen and all of the tax issues that come with marrying a U.K. citizen.

Though the philanthropist and actress is fabulously wealthy on her own, her marriage to Prince Harry will put her into an even higher tax bracket. With a potential royal allowance at her disposal, Markle and any future children that she might have will never have to worry about money again. You’ll be stunned by the amount of money Markle might get as a royal.

An independent wealthy woman

Meghan Markle poses in a gray suit jacket

Markle has been well off on her own for some time now. | Alberto E. Rodriguez/Getty Images

Prince Harry and the rest of the Windsors are worth an astounding $500 million, but Markle is no pauper herself. Though she will not be returning to her role as Rachel Zane on USA’s Suits, she made an astounding $50,000 per episode, with her annual salary somewhere around $450,000.

It’s also been reported that Markle’s total net worth sits somewhere around $5 million, so she clearly doesn’t need any Windsor money.

Next: Markle won’t be able to escape the IRS even after moving to London.

IRS expects to collect from Markle until 2023

Meghan Markle close up tinted lip

Markle will still have to pay taxes even after she becomes a British citizen. | AFP Photo/Pool/Adrian Dennis

Though Markle is set to become a British citizen eventually, for the first five years of her marriage to Prince Harry, she will remain a U.S. citizen. This means the Internal Revenue Service will still be holding out its hands and expecting her to pay taxes on any income that she earns until 2023.

Markle also has the option of becoming a dual citizen. If she chooses to go that route, then she will have to continue filing taxes with the IRS. In November 2017, The Washington Post reported that the forthcoming royal marriage could “cause tax headaches” and “mundane hurdles” for the royal family.

Luckily, love trumps paperwork.

Next: Markle will also be boosting her income by doing this.  

Markle’s house is on the market

Meghan Markle and Prince Harry holding hands and walking together.

Prince Harry and Meghan Markle | Chris Jackson/Getty Images

Moving to London means Markle had to put her cozy Toronto pad up for sale. The three-bedroom, two bath house is on the market for $1.395 million — a sizable profit that’s sure to keep her comfortable during her transition into the royal family.

The home is located in Seaton Village and comes with wooden floors, vintage flair, and large walk-in closets.

Next: Markle will marry into millions, but how much?

The prince’s wealth is impressive

Prince Harry and Meghan Markle during an official photocall to announce the engagement

Prince Harry has received quite a bit of money in the past. | Chris Jackson/Getty Images

Prince Harry seems like a relatively laid-back dude, but that doesn’t mean his finances aren’t in order. The former army pilot is worth upwards of $40 million, which obviously bodes well for Markle.

When the prince turned 30, he inherited $13.3 million from his late mother Princess Diana’s estate. During his days as a pilot, he also earned an annual salary of $50,000. Prince Harry’s father Prince Charles’ estate also takes care of his children and grandchildren’s expenses when it comes to their royal duties.

The Daily Mail reported that between 2016 and 2017, the Duchy of Cornwall paid nearly $9 million to support Prince Harry, Prince William, and Kate Middleton’s activities and other expenses. With an all-expenses-paid lifestyle, we doubt Markle is even considering an allowance.

Next: Here’s how taxpayers factor into the royal family’s finances.

The British taxpayers will help pay the bills

Kensington Palace

Kensington Palace in Hyde Park in the center of London, England. | Mike Hewitt/Getty Images

The couple doesn’t have to worry about monthly rent or utility payments, as they will continue to live within the walls of Kensington Palace. The Sovereign Grant funded by the British taxpayers covers those bills. Parliament is expected to grant the queen over $109 million in 2018/2019 to maintain and perform royal duties.

No doubt Markle and Prince Harry will benefit from this money, as this is what’s used to maintain the Kensington Palace properties and other palace upkeep.

Next: The huge royal allowance Markle may soon have access to 

A six-figure royal allowance

Meghan Markle attends Christmas Day Church service at Church of St Mary Magdalene on December 25, 2017

Markle will be receiving a shiny new title, which could have monetary benefits. | Chris Jackson/Getty Images

Though she doesn’t need the money, Markle could still be privy to a potential allowance when she becomes Her Royal Highness, the Duchess of Sussex. In addition to his inheritance and expenses that are covered by his father, Prince Harry also receives an annual allowance of $450,000 from his late mother’s estate.

Though a portion of those funds may not be formally allocated to Markle because of tax reasons, we’re sure some of them will go to her lifestyle.

Next: Where else will these two get income from?

Speaking and charity engagements

Prince Harry meets with Prime Minister Justin Trudeau

Prince Harry (here with Canadian Prime Minister Justin Trudeau) will continue to be a public figure. | Chris Jackson/Getty Images

Part of the deal of being royal is conducting regular public appearances and engagements. While Markle and Prince Harry will not receive an annual salary for their duties, they will be reimbursed for expenses incurred during ambassadorial appearances through the duchy. That organization paid nearly $9 million for Prince Harry, Prince William, and Kate Middleton’s activities in 2016.

Since shutting down her lifestyle blog, The Tig, and resigning from her post as a World Vision Global Ambassador and a U.N. women’s advocate, Meghan has expressed interest in conducting charitable workthrough the Royal Foundation. Luckily, she’ll have the vast capital and resources to do it thanks to the duchy funds.

Next: The surprising status of their royal prenup

Royals aren’t huge believers in prenups

Prince Harry and Meghan Markle attends the Terrance Higgins Trust World AIDS Day charity fair

It’s doubtful that the pair will sign anything other than a marriage license on their big day. | Chris Jackson/Getty Images

With so much money on both sides, it seems like a prenuptial agreement would be the smart thing to do for the royal couple. However, Prince Harry and Markle are doing things their own way.

Apparently, prenups aren’t common in England, so the royal couple probably won’t be signing one. U.K.-based family law attorney Julian Hawkhead told Us Weekly:

If there was any drive to do so it would have come from the senior members of the royal family. There has been absolutely no such direction to do this and in fact, I’m reminded of when Prince William and Kate Middleton were engaged to be married, the Palace made it quite clear that they had no expectation that there should be any such prenuptial arrangement made. The precedent has therefore been set by Harry’s father and brother, neither having entered in prenuptial agreements before they married.

Next: Here’s how Markle can keep her royal wealth private. 

The max amount of assets

Prince Harry and Meghan Markle engagement photo

Every detail of their lives is scrutinized — including money. | Kensington Royal via Instagram

Whatever Markle and Prince Harry decide when it comes to managing their money, they’re going to have to be careful if they don’t want their business to go public. If at any point in the next five years Markle has more than $300,000 in assets, she’s going to be forced to file Form 8938, a specific form that details foreign assets, which could include foreign trusts.

This means she would be putting the royal family’s finances in the media, and we doubt very much that Prince Harry’s grandparents, Queen Elizabeth II and Prince Philip, will be pleased with that.

Next: The royal family isn’t as rich as you think.

Not as rich as you think

Queen Elizabeth II Visits Frankfurt am Main

Even Queen Elizabeth herself isn’t raking in the dough the way you might expect. | Chris Jackson/Getty Images

Though the Windsors don’t necessarily need to watch all of their expenses, they don’t top the list of the wealthiest folks in the U.K. In fact, the queen is the joint 319th richest person in the U.K. She shares her position with The X Factor judge Simon Cowell.

No matter what she decides to do, we’re pretty sure Markle is set for life.

Next: The staggering amount the royal wedding will boost the economy

A royal boost to the economy

Prince Harry (L) and fiancee Meghan Markle leave after their visit to Star Hub

The royal couple will be avoiding photos during their celebratory nights out. | Chris J Ratcliffe/Getty Images

Markle joining the royal family will affect the whole country. The couple’s May 19 wedding will reportedly boost the U.K. economy $680 million, according to Reuters. The report attributed $500 million of that to tourism, travel, and hotels. In addition, $67 million is predicted from the sale of commemorative items like T-shirts and hats. Commoners celebrating the royal wedding are expected to spend more than $200 million throwing parties.

Source: cheatsheet com

Tags: Meghan Markle, Prince Harry, Harry and Meghan, Royal Wedding, Wedding Preparation, Wedding News, Royal Wedding, Harry Wedding, Meghan Wedding, British Royal Family, British Royal News, British News, Royal News, Prince William, Kate Middleton, Catherine Duchess of Cambridge

hashtags: #MeghanMakle #BritishRoyal #Royals #Royal #RoyalFamily #RoyalFamilyNews #Wedding #WeddingNews #PrinceHarryandMeghanMarkle #HarryWedding #MeghanWedding #RoyalNews #PrinceWilliam #KateMiddleton #Catherine #DuchessofCambridge #CatherineDuchessofCambridge

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