It is anticipated that Prince Harry would lose a significant sum of money due to taxes and legal fees that he will have to pay in the US.
As part of a settlement agreement with the NGN media company, the Duke of Sussex is expected to collect millions of dollars in damages.
According to News, as legal damages are not taxed in the UK, Harry will have to pay tax on the remaining funds in the US after paying his legal bills.
“As a US resident, Harry has to pay tax on his worldwide income unless it’s been taxed in Britain,” according to News, which cited anonymous sources.
According to the sources, “And here’s the sting in the tail: legal damages are not taxed in the UK.”