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Prince William slapped with 4m pounds tax bill

June 24, 2012 - London

Prince William, who inherited 10million pounds from Princess Diana's fortune last week, has been hit by a 4million-pound tax bill.

And unlike comedian Jimmy Carr and some members of Take That, the royal is not expected to reduce his tax bill by resorting to a loophole scheme.

According to HM -Revenue and Customs, William is expected to face a bill of between 3.6million and 4million pounds upon his inheritance.

"The Royal Family pay tax like anyone else," the Daily Mail quoted a spokesman from the HMRC as saying.

"Tax is payable at 40 pc or 36 pc if you make a charitable donation. If someone is given a lump sum they would have to pay tax on that."

Princess Diana, who died in 1997, left an estate of 12,966,022 pounds after inheritance tax of 8,502,330 pounds was deducted.

The fund is -estimated to have grown to nearly 20million pounds in the following 15 years.

William and his brother Prince Harry are both entitled to half of the tragic Royal's estate

Diana's will stated the boys should get their entire share when they turned 25 but executors later changed the age to 30.


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