Charles won't pay inheritance tax on what he inherits from the queen..

[justlikethatt]

Are people aware? And think this is OK ?

I'd rather he didn't tie some of his subjects into unfair leaseholds .

Because it belongs to the crown only a very small proportion is actually held by the family. If you have enough money it is economically viable to set up similar trusts to avoid inheritance tax. It's also a form of assets protection. I don't get annoyed when companies use the law to pay the correct amount of tax, it's called tax planning. Why would they pay more than they legally have to. The only annoyance for me is the companies that go "bankrupt" to avoid a tax bill then start up again hours later with a slightly different name.

Personally I don't agree with inheritance tax why should I pay tax on money that my family has already paid tax on. I'm a net contributor already so it's just an added tax burden at a time of grief.

The jealousy of the royals at a time of bereavement for the family speaks volumes for this country. Instead of being jealous of what they have, work, innovate, or expand to earn a place in that rank of society if that is what you desire. Personably I prefer the flamboyance and extravagance of new money it looks much more fun.

But don't drag a normal family who is grieving the loss of a much loved family member through the mud for your own jealousy. Publishing details of their traditions finances, property or investments in the gutter press feels like sticking a knife in and twisting it as hard as you can. That mother, grandmother and great grandmother isn't even buried yet.

Will he? Where are the records as to that?

Hint: you won't find them. For the very good reason that their finances are secret and the whole family is exempt from the FOI Act.

There's a big leasehold reform supposedly coming and he's persuading the government to leave it be . This is his opportunity to abolish the last bastion of feudalism and he won't take it

I have lived in a republic for nearly 30 years. I left GB with the hazy idea of “royalty s’not fair” and a sense of a republic being cheaper, more modern, nepotism-free, merit driven, more transparent, less prone to all the “you scratch my back, I’ll scratch yours”.

Those illusions got beaten out me and my pay packet at quite a fast clip.

Come to me with a clear, “flesh on bones” plan for an alternative that loses none of the soft power and eliminates the bulk of the flaws and I’m open to persuasion. But just waggling “s’not fair” and an assumption that well oiled, transparent and fair republics just drop out the sky isn’t persuasive.

I have as much desire for Brexit 2.0 levels of upheaval and complication as I do for repeatedly stabbing pins in my eyes. I’m running on fumes thanks to “interesting times”. Before I can get my head around the chaos and upheaval of one massive New Thingie, the next one crashes over me like another wave of WTF. It’s like the mental/emotional version of my painkiller free induction. Couldn’t even catch my breath from the last massive contraction before the next even bigger one gripped me.

I think I’m officially old. “Yeah ! Let’s burn it all down in the hope that something great will fill the vacuum with little to no friction in the process” is now deeply unappealing. I want to know exactly what and how the replacement of one system with another will look like. With an awful lot of supplementary documentation of the “here’s what we think could be the potential unintended consequences and this is how we hope to minimise the risk of them”.

All of that in a nice large font (cos I have no idea where my glasses have gone) before I’ll even raise a glimmer of interest in getting cross with, led alone rid of, a system full of people lives’ that I do not envy.

They should pay IHT but there would have been a lot of trusts, agricultural, business, heritage allowance planning going on (if the allowances still exist) which presumably she didn't need to bother with as her estate avoids it.

But, yes, they should pay.

And yet most of these moronic comments come from people on an average wage, or below.

Wow just wow, all these people who work in minimum wage jobs keeping the country going, must not be allowed an opinion.

Because it's the public funded head of state and his family? Not exactly random members of the public. And why shouldn't they pay tax?

I'm a net contributers I'm allowed to complain.

All new trusts which are formed after 2003 will be part of the relevant property regime.

This means they pay inheritance tax:

• When assets are settled into the trust
• When assets leave the trust (a proportionate, or exit, charge)
• Every ten years regardless (a principal charge)

Trusts do not get you out of IHT - not any more.

You might be able to claim things like APR / BPR, but these are reliefs which are available to everyone who owns farmland or businesses and aren't trust-specific.

Yes. Or they're 'jealous'. Or better yet, in pure Toryspeak, they should just 'work harder' and they, too, could be in a position of hiding from the tax office and shrouding your financial dealings by a means unavailable to any other citizens of these islands.

Really, that's the best arguments people seem to be able to come up with for the continuation of this archaic, hereditary system. Those who kept this nation running through the pandemic were not the likes of the Mountbatten Windsors' repetitive parrotting of the words 'amazing' and 'inspirational' through a webcam. They were supermarket workers, essential services workers, nurses, doctors, many of them netting on or near the minimum wage. But apparently it's quite okay to have contempt for or despise these people (note snide comments above about who pays what tax and people on 'average wage), whilst sucking up to bone idle people who've barely done a stroke in relation to the very considerable privilege conferred on them without recourse to a vote.

No wonder those people find this system so hard to defend without resorting to sneering and insults.

Our opinions all differ on raising or
Spending of public money.

I'm happy that inheritance tax is not payable
On the transfer of the Queen's assets to King Charles III.

I'm not happy that my neighbours children have a free school lunch as it is not necessary as they can afford to provide
Lunch for them. I'm not happy that free childcare is also available.

Our opinions all differ on these matters.

This

...do need ketchup with that?

Couldn’t care less. The Duke of Westminster is much, much richer than the royal family, his family doesn’t pay inheritance tax either.

So you say it is "supposedly" coming (so you don't actually know whether it is or not) but are quite confident that he is "persuading the government to leave it be". Right. Hopefully I don't have to explain to you why your comment is worthless.

I know some people hate facts but you know, just try inews.co.uk/news/sovereign-grant-how-much-where-royal-family-money-what-crown-estate-means-1847323

I think my £1.29 is a quite reasonable investment.

As the structure is set up differently due to the sovereign rules , then it could be debated that it's a not an issue, due to the taxes not being needed to be paid to begin with.

Well done for what.. having a different opinion to you?

Yeah right. A few pennies each .

https://www.republic.org.uk/thetrueecostoffthe_royals

If you believe what an organisation with such an obviously biased agenda says you probably also believe in fairies.

Of course they should be allowed an opinion, but when you aren't a net contributor, you should probably be cautious about throwing around the 'my taxes pay for' argument yourself as you are taking out more than you put in

Lol

It's all factual . Check it for yourself

Yes, sneering and insults just about sums you up. Glad you've acknowledged it. That's very rare.

Are people aware that there is a difference betweens the queen's personal wealth and the Crown estate?

The queen's personal wealth, IE the houses, investments, jewellery, art etc that belonged to HER, is estimated at around £350million. Thus was hers to do with as she wished. The IHT on that would pay for a few hospitals I'm sure.

This is separate from the multi billion Crown estate.