Our NEW KING paying 0% inheritance tax on £100 million estate

[bluejay5]

Am I right in thinking this is unreasonable? While the rest of us commoners are taxed to within an inch of our lives, struggling to heat our homes. A few select individuals who are innately better than any of us towns folk get to keep their wealth and see their generations become richer and richer.
Don't get me wrong I understand the need to pay taxes, to keep us in a usable society and country. They tax our income, any profit we make from any business we take the risk of setting up, our council taxes us, if we receive a dividend from any smart investment we make, if we decide to buy a new house with money that was already taxed, they tax us again ..

And finally to top it all off, after being taxed all our working lives we decided to try and build some generational wealth and help out our offspring, and even in death they tax us... on property and money that was already taxed!!!

Yet a few individuals through no skills, or talent of their own, just by virtue of their birth are deemed to be literally innately better to a point where they are exempt from the rules we live under.

Please make it make sense???

Apparently, the monarchy is exempt from income tax in order to protect the wealth of the royal family from being eroded!
While the rest of us fight for survival like crabs in a barrel.

Plus anyone heard of the ''panama papers the queen''
google it ...

this Society has class baked into it. We aren't meant to move up or aspire for greater things. It's a rigged system, you can't tell me it's not.

Sorry, rant over.

That answer is far too logical and not a whiff of anger.

Not very bright are you OP? 🤔

@Quincythequince it’s not hard to understand that the Duchy is an estate, not a palace.

Balmoral and Sandringham are both privately owned and not Crown properties. Why are they not subject to inheritance tax like any other privately owned properties? If Charles can't afford to pay tax on them, he does what others are expected to do...sell them. It's not like he hasn't got anywhere else to go that is exempt from tax.

Land and property.

So the country receives 70% of wealth generated by the monarchy in perpetuity instead of a one off 40% of value. Seems very reasonable.

It’s also incorrect. The duchy is not owned by the crown, it’s private and generates £652m pa.

Do we really need another thread about this, couldn't your thoughts just be added to one of the others?
So what's the answer? Shall we sell off Sandringham or Balmoral to someone from the Middle East?

This

50% YABU 50% YANBU, now, where have we seen a similar split in opinion before?

I don't think anyone should pay inheritance tax, it should be abolished.

Would you seriously prefer that Buckingham Palace was sold to a foreign businessman or developer like so much of the rest of London? I doubt the National Trust could afford to buy it

Sounds like a plan. With the proceeds I'm sure a suitable house for an elderly couple could be found somewhere near Leeds (say), thus meeting the Government's 'levelling up' mantra.

The OP was talking about the Queen's personal wealth, estimated at £500 million, not the Crown Estate and other assets belonging to the monarchy which are estimated at £24 billion.

The private property includes Balmoral and Sandringham - in theory King Charles could very much sell these and buy a Texas ranch instead if he so desired. They're not state/monarchy assets.

Exactly, the castle's etc are not 'his'.

Exactly this!

This^^

If I build up my assets and invest wisely why should my family pay inheritance tax on an estate that has been made with previously taxed income?

Worth reading 'who owns England'...

As for the suggestion that if you are wealthy enough to generate an inheritance, you are wealth enough to mitigate the amount you pay... Hmm.. well the trust laws and their administration are defined by and retained in place to remain by those who have an interest in keeping them.

I will just leave this here - The Duchy of Cornwall"

"How is the financial security of the Duchy protected?

Under the 1337 charter, The Prince of Wales is not entitled to the proceeds or profit on the sale of capital assets – and only receives the annual income which they generate, which is voluntarily subject to income tax.

To ensure that the estate is protected effectively, and for the benefit of future generations, the Duchy’s ‘trust provisions’ have, over the years, been set in legislation, with the financial security of the Duchy overseen by HM Treasury. For example, all property transactions with a value of £500,000 or more are approved by the Treasury."

The Duke has no right to sell the property because it is in trust - he doesn't own it.

But Sandringham and Balmoral are private estates, they don’t belong to the crown, so it’s private wealth. Why shouldn’t he pay inheritance tax on private property that he has inherited from his mother?

Urgh, how many posts on the same thing?
YABU it’s not personal wealth

I agree @bluejay5 The level of deference and exceptionalism for a mediocre person who’s lucked out on his accident of birth, is distasteful.

Except a lot of it is, 🙄

It is clear that there is no appetite for a Republic. The sheer numbers of people that are attending, the response to her death ... Sorry but people need to accept we have a king

Several things -

There are plenty of people who haven't attended - but by definition, you don't see them

There are plenty of people who are ambivalent, who don't care either way

There are also people who attend just to be a part of history. I went to watch the gun salute and will watch the funeral - but I do not support the Monarchy

I wonder how the Crown got so much money and land in the first place?

This. Much of the private palaces are used to entertain as part of his job as monarch. He pays other taxes. It’s fair enough imo.