A certain book

One of the more amusing leaked extracts from the book was Meghan's first sight of Nottingham Cottage, it left her aghast at just how humble it was, like a "frat house" allegedly!. Not yet a Duchess but nevertheless ascending to that role magnificently whilst visiting the lowly serf like man cave, that she was expected to live in Harry was embarrassed to take her there so we are told and as we know from Oprah who also visited, again absolutely appalled, a virtual hovel no less! All very amusing from two Californians who seem oblivious to the fact that there's a hell of a lot of people living in tents in the state of California. Nevertheless here he was a Prince no less living in a hobbit hole, albeit in a posh part of London, I rather think that's what they overlooked, oh and the architect, that would be a certain Christopher Wren. As the saying goes less is more and the clue is in the name "cottage" but when one's bathrooms run into dozens I guess it is tantamount to a garden shed maybe!

Norah, not really. It’s self-employed income, rather than PAYE, hence being taxable after expenses, but still income. What complicates matters somewhat in this case is that it’s income earned in multiple tax jurisdictions. Although, if Harry’s tax country is the USA, I believe they have a flat 30% tax withholding on foreign income. He’ll have good accountants, and under the American tax system, he can claim back the cost of them as expenses!

Are you sure your brother pays tax in both countries? It’s possible, but more common (and annoying) to have to file (do a tax return) for both countries, but not to earn enough for double taxation.

As for The Wicked Step-mother, neither William nor Harry look particularly unhappy just after Charles has announced his forthcoming marriage to Camilla. William was to be a witness and ring-bearer.
www.kentlive.news/news/kent-news/prince-charles-rude-comment-harry-5457467

I think William and Harry were both laughing because Charles had made a rude comment about a reporter.

Caleo

But, GrannyGravy , that is still primogeniture. It's about the first born and so forth ,not about the sex.

Apologies your reference to a girl sibling has addled my brain.

Anne was the second born however she was fourth inline to the throne before the change in the law. it wasn’t retrospective though.

Good grief! That’s a bit of a “get out of jail free” card isn’t it?
Like PH remembering being at school and hearing the Queen Mum had died, when there is clear evidence he was skiing at Klosters?

Ahhh, happy days 🙂

CatsCatsCats

One cheering fact I heard yesterday. Happy Valley viewing ratings beat the interview ratings hands down on Sunday evening.

Quite right too! Happy Valley is superb entertainment - Harry's mewling is self indulgent, boring dross.

Even the ghost writer seems to be saying ‘Don’t blame me!’.

GrannyGravy13

Just seen this …

Good grief! That’s a bit of a “get out of jail free” card isn’t it?
Like PH remembering being at school and hearing the Queen Mum had died, when there is clear evidence he was skiing at Klosters?

To return to who wrote the book, there has been no secret of the fact that it was “ghost-written” and many reviews credit the writer with a level of style and presentation which way exceed PH’s lamentable performance in his interviews.

Consider his abysmal academic performance despite a phenomenally privileged education.

He surely didn't write that himself!!

Of course he didn’t.

But, GrannyGravy , that is still primogeniture. It's about the first born and so forth ,not about the sex.

Caleo

It woild be nice if the Windsors were not so rich, then we could see their troubles in relation to most other people's troubles.

I guess that if Prince William's sibling had been a girl she would not have had the angst that Harry suffers from. Primogeniture is a nuisance and always was a nuisance, besides being shakily based in theistic determinism.

Queen Elizabeth II abolished primogeniture when William and Catherine got married, if Charlotte had been born first she would have been above any male siblings born subsequently.

Siope

Norah in the UK and US - don’t know about elsewhere - royalties are counted as income and subject to income taxes. Certainly all costs incurred against (normally I’d say writing) the co-authoring of the book, and any associated with revisions, can be offset against tax. This would, in this instance, include the fee paid to the ghost writer, assuming Harry and not the publisher is liable for that.

Tax on royalties is quite complex. There are rules for corporate royalties which differ from rules for individual royalties. And there are then tax rules that apply, in some but not all countries, to where the royalties were earned, to where the corporate body or individual resides (not necessarily where they live) for tax purposes, and whether the place of tax residence has a tax treaty with countries that require tax paid on income earned there, and what the limits of that tax treaty are. The US, for example, has a tax treaty with the UK so that expat earnings up to X amount per year are only taxed in one country not both. The limit is generally in 5 figures, and obviously is impacted by the exchange rate.

And then there is the perennial debate about whether advances should all be recorded for a single tax year - the year the advance is earned - or offset over several years, as royalties would be.

Interesting. I know brother pays tax in both UK and US. I think you're saying royalty income (after expenses) is different?

It woild be nice if the Windsors were not so rich, then we could see their troubles in relation to most other people's troubles.

I guess that if Prince William's sibling had been a girl she would not have had the angst that Harry suffers from. Primogeniture is a nuisance and always was a nuisance, besides being shakily based in theistic determinism.

It’s never his fault!

Callistemon21

GrannyGravy13

Just seen this …

He surely didn't write that himself!!

If he didn’t Kindle could be in trouble, it’s part of their publicity blurb and it is attributed to him?

GrannyGravy13

Just seen this …

He surely didn't write that himself!!

Just seen this …

Yes indeed Smileless

Norah in the UK and US - don’t know about elsewhere - royalties are counted as income and subject to income taxes. Certainly all costs incurred against (normally I’d say writing) the co-authoring of the book, and any associated with revisions, can be offset against tax. This would, in this instance, include the fee paid to the ghost writer, assuming Harry and not the publisher is liable for that.

Tax on royalties is quite complex. There are rules for corporate royalties which differ from rules for individual royalties. And there are then tax rules that apply, in some but not all countries, to where the royalties were earned, to where the corporate body or individual resides (not necessarily where they live) for tax purposes, and whether the place of tax residence has a tax treaty with countries that require tax paid on income earned there, and what the limits of that tax treaty are. The US, for example, has a tax treaty with the UK so that expat earnings up to X amount per year are only taxed in one country not both. The limit is generally in 5 figures, and obviously is impacted by the exchange rate.

And then there is the perennial debate about whether advances should all be recorded for a single tax year - the year the advance is earned - or offset over several years, as royalties would be.

Anniebach

Talking of his anger for everyone with one exception

This has to be the most astute, perceptive comment
I have EVER read on this subject, the key never turned.

I love the way his book has been classified as non fiction, bearing in mind the amount of fiction if appears to contain.

I read that too Kate. May well be the understatement of 2023!!

Callistemon21

Germanshepherdsmum

Siope

I understand that a fixed sum is going to charity, so whether it’s a small percentage of overall profit depends on how many are sold, and at what price.

It has been reported that H received a $20m advance for his book and has paid £1.5m to two charities (in total).

Right - firstly what is the exchange rate?

Google: 20,000,000 US dollar = 16,468,200.00 Pound sterling

Germanshepherdsmum

I don’t suppose posters are looking at the niceties of accounting practices. H has received income amounting to millions of dollars by way of an advance and H has paid out of that income a relatively pitiful sum to charity. Accounting practices are irrelevant to the principle that has been the subject of comment.

Wouldn't it happen that from his advance (income) he'd pay expenses, 45% in UK tax, 37% rate in US tax (quick google reveals US rate), and the amount he promised to charity?

I agree eazybee. What Kate says reminds me of HM’s brilliant phrase ‘recollections may vary’.