Elizabeth II’s legacy: why Charles III won’t pay any inheritance tax

By ascending the throne, Charles III would also receive a large inheritance. But this huge amount is not subject to inheritance tax.

  • This Saturday, September 10, 2022, Charles III is officially King
  • Along with the throne, he got a large amount of inheritance
  • This inheritance is not subject to inheritance tax

Charles III will ascend the throne of England on Saturday, September 10, 2022. After the death of his mother, Queen Elizabeth II, her son had to take over as the head of the British royal family. And with this transfer of powers, the son of princes William and Harry also inherited a large sum. In fact, according to Sunday TimesElizabeth II would have been “at the helm of a personal fortune of £370m by 2022, up £5m from last year”. Balmoral Castle in Scotland and the Sandringham residence were also passed on to Prince Charles.

Charles III exempted from inheritance tax

Queen Elizabeth II also passed on her extensive stamp collection worth 100 million euros. The 87 million pounds corresponding to the private fortune of the Monarch is the total of Prince Charles. In fact, no inheritance tax will apply to this inheritance: “This is a royal privilege that was introduced in 1993 to prevent that in the event of the imminent death of several members of the royal family, the inheritance of the royal family is not taxed each time”, determines BFMTV.

The British royal family still pays income tax

Our colleagues are still noticing the change in the finances of the British royal family : “Since 1992, the British Royal Family has been paying income tax but only on the private part of this income. For example, that from property investment, farms, its stock portfolio. Last year up to 28 million euros.” But the British royal family has other sources of income : “The rest of the income paid by the British Treasury, on the other hand, is not subject to tax: 99 million euros, last year. This amount mainly makes it possible to pay the employees of the Crown, 500 people and to cover the all representation costs. This represents 1.50 euros per year and per subject of His Majesty”.

The challenges that Charles III had to face

Prince Charles also received part of the estate left by his father, which is 30 million pounds and a large collection of paintings and books. It also received the Duchy of Lancaster, a historical monument that generates tens of millions of euros every year. So Charles III will try to manage this huge fortune that will allow the British royal family to continue. The new king has many challenges to overcome to try to keep the soul of Queen Elizabeth II. The case of his son Prince Harry must be dealt with. Losing Prince Harry by his side is very difficult for Prince Charles to live with. And this is not the only dangerous file for the British royal family. In fact, Prince Andrew’s case is just as hot. His brother was accused of sexual assault. Queen Elizabeth II has always supported her son. What about Prince Charles?

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Charles III
In fact, according to the Sunday Times, Elizabeth II will be “at the head of a personal fortune of 370 million pounds by 2022, or 5 million more than last year”. Balmoral Castle in Scotland and the Sandringham residence were also passed on to Prince Charles.

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Charles III
Queen Elizabeth II also passed on her extensive stamp collection worth 100 million euros. The 87 million pounds corresponding to the private fortune of the Monarch is the total of Prince Charles.

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In fact, no inheritance tax will be applied to this inheritance: “This is a royal privilege established in 1993 to prevent that in the event of the death of some member of the royal family, the inheritance of the royal family will not be taxed every time” , determines BFMTV.

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Charles III
Our colleagues still note the change in the finances of the British royal family: “Since 1992, the British royal family has paid income tax but only on the private part of this income.

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Charles III
For example, those from real estate investments, agricultural land, its stock portfolio. These revenues amounted last year to 28 million euros. ”

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Charles III
But the British royal family has other sources of income: “Other incomes paid to the British Treasury, on the other hand, are not subject to tax: ”

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“99 million euros, last year. This amount allows the specific payment of employees of the Crown, 500 people and to cover all the costs of the representation. ”

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Charles III
“This represents 1.50 euros per year and per subject of His Majesty”.

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