Taxes. Prince Harry and Meghan’s biggest problems after leaving the royalty
It seems that life will become more difficult for Prince Harry and his wife, Megan Markel, after their official withdrawal from royal life next March 31.
According to Nathan Rini, a British tax expert, it is expected that Prince Harry and his wife will be under the financial burdens once they travel from Britain. They will be difficult to avoid or pay strict tax laws from the heavy gifts Prince Charles used to give to the couple.
According to the British “Express” site, the two men will be shocked by the high prices once they abandon the royal life. They will not get any money from the ruling family.
The two-way transition to Canada once they have completed their ownership duties is no less difficult, as Canada has declared that it will not interfere in providing free protection to the couple, which complicates matters further.
The site clarified that although the couple lives in a country other than England, they have to pay taxes in Britain whatever their place of residence, and consequently in case of increasing the source of Megan Markel income for any reason (whether from representation or public activities) The taxes levied on them will be increased by dependency.
The tax expert enumerated the difficulties that will soon face the duo, saying: “Matters will increase significantly, although these decisions are usually taken to bring more simplicity to the life of their owners, but the opposite is what happens. From the perspective of tax obligations, Harry and his wife will find themselves in a major dilemma.”
These statements come on the background of the two men’s declaration of their search for a palace on Malibu beach in the state of California.
California taxes are known to be the highest in the United States, with a rate of 13.3%. The couple is also obliged to report any increase in their income to tax officials in Britain, so the couple will find themselves – in this case – committed to paying taxes in two countries.
Prince Charles, Prince Harry’s father, may intervene to pay tax bills for the duo in England, but he will not be able to help the couple pay US taxes.
The tax expert concluded that a tax expert should be hired soon by the couple to help them avoid any future thorny situation, otherwise they would find themselves in an unexpected dilemma.