Royal saving: Meghan and Harry move to Los Angeles to dodge being taxed TWICE

Royal saving: Meghan and Harry move to Los Angeles to dodge being taxed TWICE

According to The Sun, Meghan and Harry have moved to Hollywood due to having more opportunities to save money. As the duchess is a US citizen, if she were to accumulate income while residing in Canada, she would have to pay tax in both the US and Canada.

A source told the newspaper: “Initially Harry and Meghan wanted to be based in a Commonwealth country — Canada — and earn their own money while still performing some royal duties.

“But their plan very quickly fell apart.

“They were told getting work visas in Canada would be difficult and because Meghan remains a US citizen, so is taxed on her worldwide income, she would end up paying in the US and Canada.

“Then the Canadian government made it clear they would not contribute to their security costs so it made much more sense to live in Hollywood and only pay US tax.”

Self-employed income that could come from social media or any merchandise sold would have to be reported.

The US Internal Revenue Service would also have to be made aware of any foreign bank accounts that Meghan and Harry posses.

It has been speculated that the Sussexes will seek to make millions of pounds from their brand across the pond.

The royal pair jetted out of Canada to Meghan’s hometown in the US before the borders were shut amid the coronavirus pandemic.

READ MORE:Harry ‘strong-armed’ Disney into giving Meghan Markle voiceover job

Twitter users have been left scratching their heads about who will pay for Meghan and Harry’s private security after the UK and Canada previously picked up the bill.

The Royal Canadian Mounted Police has been working with London’s Metropolitan Police on security for the Duke and Duchess “intermittently” since they moved to Canada last November.

But once Harry and Meghan are no longer considered senior members of the British royal family at the end of this month, they will not receive the publicly-funded security which is estimated to cost around £7.6 million, according to The Sun.

Royal photographer Arthur Edwards said their move was “not a surprise” as their isolated existence on Vancouver Island was “never going to work”.

Although Canada is in the Commonwealth, Mr Edwards felt it was never somewhere they would remain permanently.

He told The Sun: “They tried palace life in Britain but it didn’t work out. So they have switched from Harry’s home town to Meghan’s.

“In a way, it’s exchanging one goldfish bowl for another but it’s a city where Meghan has deep personal and professional connections.

“In LA they’ll be close to Meghan’s mum Doria – her only family member at her wedding to Harry – who will love having Archie so close.”

Los Angeles is where Meghan Markle grew up while her father Thomas Markle worked as a television director and director of photography.

It is also where she has maintained her team of agents and PRs throughout her marriage.

Meghan also has many A-list friends who reside in Los Angeles, including Oprah Winfrey and Ellen Degeneres.

Published at Fri, 27 Mar 2020 22:22:00 +0000