The Queen and wealth

[whatsthestory123]

ok seen some people on here saying Harry will be wealthy through the Queens will.wealth and i have no idea

was the queen wealthy in her own right,im guessing jewels/estates are part of the UK,does anybody know about these things

It’s not just rents and farmland etc but also what the people (mostly women) marrying into the family brought with them. The Queen’s mother was from one of the wealthiest families in Scotland and she left her entire estate to The Queen.

Queen Alexandra was a princess of Denmark, Queen Mary had a vast jewel collection that she left to the Queen. Although she had little else as her father was a penny less duke from The Austrohugarian empire.

This why it is not as cut and dried as ‘tax payers money’. There is the tricky bit where anyone marrying into the family is adding their assets to the pot.

This ^ basically

100% this, its ridiculous!

@TheLovleyChebbyMcGee and @Precipice

This was covered on another thread. Everyone who inherits form the queen over the threshold must pay IHT except King Charles as the monarch.

This arrangement is due to the facts that almost all the assets being passed on from monarch to monarch go hand in hand with the job and would therefore end up costing the government more money than they would make in the tax revenue. There is an easily googable document on the government website all about this.

The royal estates are hard to estimate because they would never be sold so are simultaneously held by the country and by the monarch.

And besides anyone can create a bare trust and avoid IHT if they want to as well. You just have to create it and put everything you want to pass down at least 7yrs before you die for no IHT to be due. And anyone can inherit from you, as many people as you lie all IHT free- unlike the monarch to monarch only requirement.

Most rich people do this, towards end of life, they create a trust, and keep back the £1m in assets (including the primary residence exemption) that’s under the IHT threshold to live on.

Princess Diana left William and Harry £10m each in trust funds as well. This was her money from her family. Probably worth more now though as that was the value when she tragically died.

@Discovereads

Yes and I would imagine that the special IHT arrangement would preclude them from doing this. So I’d imagine that who ever has inherited the racing stables is going to have a huge bill!

No, because it is structured as a breeding operation and will get 100% tax relief through Agricultural Property Relief and then Business Property Relief. Which, incidentally, is what every farmer or business owner can claim. From a butcher, a coach operator, through to James Dyson. IHT is a tax on passive assets mostly buy-to-lets, second homes and unspent stock market investments.

Incidentally, Sir James Dyson is the 25th largest land owner in the U.K. with 33,000 acres and the Queen was 35th with 20,000 acres….
abcfinance.co.uk/blog/who-owns-the-uk/

I thought Duke of Westminster was no 1 land owner?

By value not acreage

According to the link, Duke of Westminster (140,000 acres) is #10, but #4 private individual behind Duke of Buccluech and Queensberry (280,000 acres) , Danish billionaire Anders Povlsen (218,364 acres) and Duke of Atholl (145,000 acres).

Forestry Commission is #1, MoD is #2…the link lists all owners not just individuals.

I think Duke of Westminster’s land is worth the most of all the private individuals though as doesn’t he own a massive chunk of London?

I wonder how all these Dukes got their land in the first place.......

How do you think they got them? Think about the ages of the dukedoms, the history of the British Isles?

Starter for 10......

That was a rhetorical question

Interested to know your answer though.

Do a favour for a King, get some land.
Piss the King off, lose your land..

The queen was the head of one of the world's wealthiest families - but none of them pay/paid taxes, and this funeral is being paid for by us, the British tax payers. It's estimated to be costing £9 million but it'll probably be more.

Yeah, poor cut-off Harry was never poor. He's independently an extremely wealthy man.

Really not 100% sure. The Duke Buccleugh and Queensberry is descended from James Scott 1649-1685, Duke of Monmouth who was the eldest bastard of Charles II. However, despite being given this Dukedom, he rebelled and tried to take the throne when Charles II died. He was beheaded for treason. Treason meant all his land and wealth and the Duke on Monmouth title seized as well under an act of attainder. As best I can tell his ancestors wife was stonking rich and Duchess of Buccleugh in her own right and so her assets weren’t seized so their grandson got the title from his grandmother. Other than that, if you look at the list of other titles, it appears the family simply married for land and money for each and every generation…married into being Duke of Queensberry as well. But given the above, it seems the women of the family brought them and then grew their wealth.

They got land for killing someone. By raising armies to fight for the realm and to protect the State from enemies. From 1800 onwards that ceased to be the case and the Industrial Revolution meant wealth was less concentrated and so defence had a higher price. Income tax was invented to pay for war and from that day on the great landed estates changed.

Well having ancestors who went round murdering people to acquire their land/houses/money/jewels probably helps!

Treason meant all his land and wealth and the Duke on Monmouth title seized as well under an act of attainder

I bet his family were pissed off. Can you imagine that as an AIBU?

Didn't William the Conqueror basically say all this land is mine now....and he did with it what he wanted?

I’m reading with interest now. Yes. He was married off at 14 to the Duchess of Buccleugh and actually he took her surname! As a bastard he was called James Fitzroy, until he was married to Anne Scott and became James Scott.

Well how they caught him was quite amusing. He led them quite a merry chase. He rode his horse to the country side, then abandoned it. He then swapped clothes with a shepherd, and fled on foot. But then he dropped a gold snuff box in field of peas and the dogs were put on his scent. He then hid in a hedge in some woods. The soldiers threatened to set the woods on fire. He was eventually found in a ditch with peas in his pocket.

Poor woman, to be literally married to a man child because he was the kings bastard and then he goes and gets his head cut off….