The News
James Corden Mocks Prince Harry’s Tax Evasion Plot
Late-night show host James Corden has taken a jab at Prince Harry following the Duke of Sussex's surprising return to the UK.
Speculations arise that Prince Harry might be attempting to evade US taxes by flying back to the UK within 183 days, a move that could have significant financial implications.
While it remains unclear whether tax avoidance was the sole motive for his return, it has been approximately 183 days since his departure from the UK after attending Her Majesty the Queen's funeral.
In the United States, the Substantial Presence Test serves as a benchmark to determine an individual's tax obligations, akin to the Statutory Residence Test in the UK.
Under this test, if an individual spends more than 31 days in the US during the current tax year and 183 days over a three-year period, they are considered a US tax resident.
This designation subjects their global income to US taxation, a stark contrast to the UK's rules where residency status is not solely based on physical presence.
California, known for its high tax rates, poses additional challenges for taxpayers seeking to minimize their tax liabilities.
Despite efforts to be tax-efficient, individuals like Prince Harry may find themselves subject to various taxes, including property taxes, even if they limit their time in the US to comply with tax regulations.
Prince Harry's potential tax liabilities extend beyond federal income taxes, as California imposes its own tax regime.
Given his business interests and sources of income, such as Arch World Productions and Audio, he may face multiple layers of taxation, further complicating his financial obligations.
The Duke of Sussex's residency status in the US has recently come under scrutiny due to revelations in his upcoming memoir regarding past drug use.
Immigration experts suggest that failure to disclose such information during the visa application process could have serious consequences, including potential revocation of his visa or residency status.
In a recent interview with CBS, Prince Harry candidly admitted to using drugs, including cannabis, cocaine, and psychedelics, raising questions about his eligibility to reside in the US.
Professor Albert Benitez from George Washington University Immigration Clinic emphasized the importance of truthfulness in visa applications, highlighting the potential repercussions of providing false information.
Despite the controversy surrounding his past drug use, Professor Benitez speculated that Prince Harry may currently hold a green card, allowing him to legally reside in the United States.
However, the ongoing scrutiny over his tax affairs and residency status underscores the complexities of navigating international tax laws and immigration regulations for high-profile individuals like Prince Harry.