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

[justlikethatt]

Are people aware? And think this is OK ?

Any idea what the percentage is? How much is handed to the U.K. and how much is given back?

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.

So all the people who inherit from her personal wealth, and I imagine their will be a fair few, non of them will pay IHT ?

Is there any actual proof of how much money they bring in from tourism? This is just a theory trotted out time and time again with no evidence behind it. Tourists visiting our historical castles doesn't equate to them visiting directly for the current royal family.

I didn't know that, given that the queen agreed to start to pay income tax years ago. I think its bad if no inheritance tax is paid on the queen's estate.
She would have had personal wealth. Didn't she give 2m out of her private wealth to prince Andrew so he could settle out of court? Buckingham Palace were at pains to say it wasn't tax payers money so she must have considerable private wealth as well as use government owned assets.

To be fair, you assumed that post referred to Tories, it didn’t specify which party.

The houses are theirs. Gatcombe, Highgrove, Balmoral, Sandringham, Castle of May plus others. The incomes and land and properties of the the Duchies of Cornwall and Lancaster are theirs. I presume that making William Duke of Cornwall moves those monies to him as it will be a trust and exempt from inheritance tax. Royal finances are opaque for a reason. Somewhere their are a few who knows what belongs to who, but we won't know. It will be trusts and covenants and laws that have had Quuens Consent will keep it all tidy and safe. William will already have prob signed off on new paperwork given his new titles and he is now next in line.

At the accession council Charles pledged to give the income from the crown estate to the state who then give him about 20% back and he pays tax on it, so he is effectively paying 90% tax. The elements that are held by the sovereign she couldn’t have sold anyway and neither can he, they go with the job. It’s all fine.

All these threads bitching about the royals, on the death of the Queen, shows the lack of decorum of the OPs. Inviting a pile on when somebody has died. How bloody low can you get.

Absolutely. People grieving over a redundant monarch with every privilege life has to offer baffles me.

They specifically said to those running the country.

Good for him!

Inheritance tax is robbery, no one should have to pay it. Fortunately there are legal ways to avoid it if you have good financial advice.

They didn’t say now. We have had Labour governments back in the dim and distant past.

Ffs. This again?! 🤦🏻‍♀️🤦🏻‍♀️🤦🏻‍♀️🤦🏻‍♀️🤦🏻‍♀️🤦🏻‍♀️🤦🏻‍♀️

How odd that some people aren't bothered. They should be.....and regarding the tourism thing. Nonsense.

Not that many rich champagne socialist labours MPs are there ?
@Culldesack No not that many, but rich tory mps with stables to heat and moats to clean at public expense definitely.
What's the issue with 'champagne socialists' in any case ?
Keir Starmer was a w/c grammar school boy who worked hard, did well and wants the same for others. Just because you are in the LP you have to lead a hair shirted existence unlike the tories who can drink as much champagne as they like...? Really ?

No response to any of the points raised above, merely a personal insult.

Irony a novel concept to you, eh?

Why should we be? It’s not as if the cash would land in our bank accounts.

Well it certainly is to you. Dish it out, expect to get come back.

She didn't dish out anything. Sneering and insults is exactly what some posters were coming out with in regards to other posters personal finances and income. You're just attacking people for no reason now, thus proving her original point.

So what if they belong to the crown. He gets to live in them if he wants not us. I'm shocked at "he inherits less than you think" probably much much more than we think.

I'd rather the Govt be concentrating on taxing the billions the energy & water companies are making tbh!

No not that many, but rich tory mps with stables to heat and moats to clean at public expense definitely.

Wasn't it all labour mps that were imprisoned over their expenses, though?

I dont want to make this political but I think it's unfair to pick out one party when there was wrong doing on all sides over what happened with the expenses. (Yes, looking at you too Lord Hanningfield.)

Couldn’t care less. Inheritance tax is immoral anyway.

The Queen wasn’t even in the top half of The Times Rich List. Sunak’s wife is worth about ten times as much.

Brand Finance estimates that in 2017 the Monarchy generated a gross uplift of £1.766 billion to the UK economy. The contribution includes the Crown Estate's surplus as well as the Monarchy's indirect effect on various industries.