Prince Charles' tax affairs

With representatives of the Prince of Wales before the House of Commons Public Accounts Committee, Prem Sikka, Professor of Accounting at the University of Essex, has called for the Prince to go public on his tax affairs. He writes:

'The Duchy directly competes with commercial organisations to trade in property, house building, holiday rentals, organic food, jam, marmalades and biscuits. Its profits are boosted by the direct use of social infrastructure funded by taxpayers in the shape of local/central government, transport, security, legal system, and education and healthcare provided to its employees. But the Duchy makes no direct financial contribution towards any of this because it is exempt from the UK corporation and capital gains tax.'