NATIONAL: Paradise Papers link Queen’s private estate to offshore haven

Picture: Morris Troughton ENGNNL00120110403142911
Picture: Morris Troughton ENGNNL00120110403142911

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THE Queen has been accused of having her personal fortune invested in an offshore tax haven as an explosive leak of financial documents laid bare the financial affairs of the global elite.

A disclosure of 13.4 million documents, referred to as the Paradise Papers, found that the Queen’s private estate the Duchy of Lancaster had invested millions of pounds in offshore arrangements.

Around £10 million from the Queen’s private fund was paid into funds in the Cayman Islands and Bermuda between 2004 and 2005, according to reports.

The Queen voluntarily pays tax on any income she receives from the Duchy.

A spokesman for the estate said: ‘We operate a number of investments and a few of these are with overseas funds.

‘All of our investments are fully audited and legitimate.’