King Charles III will not have to pay inheritance tax on a $750 million estate

In the wake of The death of Queen Elizabeth II Last Thursday, King Charles III inherited a world of wealth and does not have to pay inheritance tax on any of it.

News Leadership: a Base It was introduced in 1993 by the UK government to protect the royal family’s assets from being wiped out if two monarchs died in a short period of time, Business Insider Reports.

  • The Queen Mother passed away 20 years ago in 2002, exercising the first part of her reign.

In numbers: Charles inherits the estate of the Duchy of Lancaster, in which it broke $27 million in revenue Queen last year.

  • Crown Estate, valued at more than $34.3 billion in assets, will now be owned by Charles III, CBS Reports.
  • Prince William, the eldest son of Charles, inherited from him a billion dollars the Duchy of Cornwall.

why does it matter: Royal family members do not have to pay a 40% tax on property worth more than $377,000 while their constituents do so.

  • However, the Queen began paying income tax and capital gains on the estate in 1993 on her own. Charles may decide to do the same.

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