herald

Monday 20 August 2018

Harry to get access to Diana's millions

Prince Harry will become entitled to the multi-million-pound inheritance left to him by his mother Diana, Princess of Wales, when he turns 30 on September 15.

Like his brother the Duke of Cambridge, Harry was left £6.5m (€8.2m) in Diana's will following her death in a car crash in 1997.

Danny Cox, head of financial planning at Hargreaves Lansdown, predicted the inheritance could have doubled to £13m depending on how the money was invested.

Although inheritance tax was paid at the time of Diana's death, Harry (inset) will likely have to pay some additional inheritance tax and, at some stage, pay capital gains tax, which together could total as much as £2.3, leaving him with around £10.7m.

Diana had an estate of £21m, but more than £8m was paid in inheritance tax, leaving £12,966,022. It was split equally between William and Harry.

Changes agreed to the will in December 1997 meant that, on reaching 25, William and Harry were entitled to the whole of the income of their share. Before the age of 25, income could be paid at the trustees' discretion.

The trustees could pay over capital at any time, but 30 was set as the age when the princes could ask for their share in full.

Harry currently earns between £38,847 and £46,198 a year as a captain in the army.

hnews@herald.ie

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