#ParadisePapers: Britain’s tax authority to look at Queen’s £10 million investment

The Queen and Duke of Edinburgh's Tour of Slovakia Day 1
The Queen and Duke of Edinburgh's Tour of Slovakia Day 1

Britain’s tax authority has asked to look at the leaked offshore investment documents dubbed ‘Paradise Papers’ to examine allegations against the queen, a spokesman for Prime Minister Theresa May said on Monday.

“It is important to point out that holding investments offshore is not an automatic sign of wrongdoing, but
Her Majesty’s Revenue and Customs has requested to see the papers urgently so it can look into any allegations,” he told reporters.

Newly leaked papers have revealed that Queen Elizabeth II invested some of her private money in offshore tax havens.

According to the documents obtained by the International Consortium of Journalists, the queen’s investment managers placed roughly 10 million pounds in offshore portfolios in the Cayman Islands and Bermuda.

The investments were made by the Duchy of Lancaster, which handles the queen’s finances. There is no suggestion the investments are illegal.

The documents about Elizabeth’s financial holdings are part of a tranche of some 13.4 million records of offshore accounts leaked to German newspaper Suddeutsche Zeitung.

The documents were shared with the International Consortium of Journalists and a network of more than 380 journalists in 67 countries.

The queen has vast financial assets, including real estate, works of art and jewelry.(Reuters/NAN)


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