‘Princess Pushy’ company rakes in £1.3m in three years but paid zero tax

‘Princess Pushy’ company rakes in £1.3m in three years but paid zero tax

  • Cantium Services is an umbrella firm for the couple’s commercial activities
  • Prince Michael, 76, who is the Queen’s cousin, works as a business consultant
  • Princess Michael of Kent has written books and earns money public speaking
  • Nicknamed ‘Princess Pushy’ because of her supposedly assertive personality

 A company owned by Prince and Princess Michael of Kent turned over £1.3 million in the past three years – yet paid no tax.

Accounts for Cantium Services, an umbrella firm for the couple’s commercial activities, show that it made a gross profit of £416,348 in 2018, £497,634 the previous year and £426,293 in 2016 – adding up to a total of £1,340,275.

But its costs were so high that it actually recorded net losses and therefore, the documents add, ‘no liability to [pay] UK corporation tax arises.’

Prince and Princess Michael of Kent arrive for dinner at the Royal Palace in honor to wedding of HRH Crown Prince Leka II of The Albanians and Miss Elia Zaharia

Although not liable for tax, Cantium – also an ancient name for Kent and parts of neighbouring counties – has paid more than £440,000 in salaries to its five members of staff, and spent over £100,000 on entertaining and travel, including leasing cars, in the past two years.

Prince and Princess Michael, who were for years allowed to rent a plush Kensington Palace apartment for just £69 a week, do not receive funds from the Civil List.

Prince Michael, 76, who is the Queen’s cousin, works as a business consultant, offering advice to the construction, telecommunications, insurance, finance and tourism industries. His 74-year-old wife, nicknamed ‘Princess Pushy’ because of her supposedly assertive personality, has written books and earns money as a public speaker.

While there is no suggestion of any impropriety, the couple may find renewed scrutiny of their financial affairs uncomfortable.

In addition to criticism over the cost of their Kensington Palace home for which they now pay £120,000 a year, it emerged in 2012 that Prince Michael had received £320,000 from the controversial exiled Russian oligarch Boris Berezovsky through offshore accounts.

A huge leak of banking documents three years ago showed the couple had a secret Swiss bank account.

They have consistently denied any wrongdoing and insist the account was closed in 2009.

In 2005, the couple were embarrassed when an undercover reporter recorded them describing Princess Diana as ‘nasty’ and saying Prince Charles was ‘jealous’ of his ex-wife’s popularity.

They have also faced allegations of trading on their titles – earning them the nickname ‘Rent-a-Kents’.

Cantium’s earning ability will certainly be appreciated in what is likely to be an expensive year. Their daughter, Lady Gabriella Windsor, is to marry businessman Thomas Kingston at St George’s Chapel in Windsor on May 18.

A spokesman for the Kents declined to comment.

 

Read more at DailyMail.co.uk