US taxman lifting lid on royal cash secrets
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BRIDE-to-be Meghan Markle will be forced to spill the Royal Family’s money secrets to the US taxman.
Strict rules in America mean the 36-year-old must reveal any cash she receives from fiancé Prince Harry or the Queen when she files her tax return.
The Independent Revenue Service will also demand to know the actress’s earnings from her Suits TV show, rumoured to be £50,000 an episode.
And they will want details of any joint accounts she has with Harry.
The prince’s spending will also go under the microscope as his fiancée will have to divulge any expensive gifts such as her engagement ring – said to be worth £100,000.
Other secrets include if she is getting a “benefit in kind” by living at Kensington Palace with Harry without paying rent, and any money they have made since moving in together.
Unique
US tax specialist Alistair Bambridge said: “Of course this raises the tantalising prospect of Uncle Sam getting a look behind the velvet curtain and seeing the private finances of the Royal Family.
“Duchess or no duchess, when it comes to the IRS, Meghan is like every other American citizen.
“Each year she must file her tax return and pay any tax she owes to Washington.”
He added: “The US income tax system is citizenship-based, so as an American it doesn’t matter where in the world you live and work – your tax affairs are always Uncle Sam’s business.
“Clearly Meghan’s case is a unique one, as she may be taxed according to the rental value of a home she lives in for free – Kensington Palace.”
In her next tax declaration Meg will have to tell all about the cost of her wedding dress, as well as any pricey gifts she receives on her big day at Windsor Castle in May.
Meghan has thrown her support behind the #MeToo campaign during her first appearance with Prince William and Princess Kate.
She said: “Right now with so many campaigns like #MeToo and #TimesUp there’s no better time to continue to shine a light on women feeling empowered and people supporting them.”