She only started paying income tax and capital gains tax in 1993 after forty odd years of being monarch. She's also had a 'monarch to monarch' deal in place since then to not pay inheritance tax (which her mother also had despite not being the monarch)
@HarrisonStickle
Thank you for saying this. It annoys me intensely when anyone says... but the Queen does pay tax. She was forced to pay income tax back in the 90s, after an investigative programme on the telly that I remember seeing, and so the non payment of tax was rescinded due to public opinion.
And the two Duchies (Cornwall and Lancaster) pay no CGT or Corporation tax. Why? They are run exactly like Companies, why should they be exempt?
Today the Duchies also benefit from these two massive tax breaks but it doesn't ring true. Although they operate like land companies they don't pay corporation tax nor capital gains tax. The supposed reason for this immunity is that the Queen’s estate is akin to Crown property and the Crown cannot tax itself. But if it aspires to be Crown (i.e., state) property, then that makes it a public and not private estate— so the RF manage to flip the status of these duchies depending on whats advantageous at the time.
On IHT... the Queen Mother leaving the whole of her estate to her daughter saved her £30million in IHT thanks to the sovereign to sovereign tax break set up for the RF in 1993. QMother set up some trusts for her GC but that was it.