King Charles III won’t pay 40% inheritance tax on £641 million estate
A government spokesperson said "the Monarchy as an institution needs sufficient private resources to enable it to continue to perform its traditional role in national life".
With the nation in mourning following the death of Queen Elizabeth II, King Charles III has inherited her position as head of state.
His Majesty has also inherited most of the Queen’s multi-million-pound estate, which is reported to be worth £641 million by AS News.
This includes a mixture of public and private assets, with the late Monarch having reportedly ammassed tens of millions in private wealth through art and racehorses and other assets throughout her lifetime.
But while ordinary British citizens are required by law to pay a 40% tax on inheritance over £325,000, this won’t be the case for the new monarch.
The reason is thanks to a 1993 change in royal inheritance law that prevents a depletion of royal funds in the case of royal deaths in quick succession.
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Despite being introduced by the John Major government nearly 20 years ago, the change was not applied until 2002 following the death of the Queen Mother. Now it is being applied again, effectively depriving the Treasury of a windfall.
Speaking to The Express, a government spokesperson said that requiring the Moarch to make an inheritance tax payment would ‘inappropriate’.
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In a comment given to the paper, the Government explained: “Some assets are held by the Queen as Sovereign rather than as a private individual.
“They are not sold to provide income or capital for the personal use of the Queen and pass from one Sovereign to the next.
“The official residences, the Royal Archives, the Royal Collection of paintings and other works of art and other assets held by the Queen in right of the Crown fall into this category.
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“It would clearly be inappropriate for inheritance tax to be paid in respect of such assets.”
However, a spokesperson also said that the new King would also be exempt from paying tax on private assets because “the Monarchy as an institution needs sufficient private resources to enable it to continue to perform its traditional role in national life”.
They added another reason for the exemption is to ensure the monarch has “a degree of financial independence from the Government of the day.”
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Any relatives beyond King Charles II, however, will still be required to pay tax on inherited assets.
The Government outlines: “In relation to assets which can properly be regarded as private, the arrangements provide that inheritance tax will not be paid on gifts of bequests from one sovereign to the next, but will be payable on gifts and bequests to anyone else.
“Tax will also not be payable on assets passing to the Sovereign on the death of a consort of a former Sovereign.
“The reasons for not taxing assets passing to the next Sovereign are that private assets such as Sandringham have official as well as private use, and that the Monarchy as an institution needs sufficient private resources to enable it to continue to perform its traditional role in national life, and to have a degree of financial independence from the Government of the day.”
Feature image – BBC
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Former Manchester City player Joey Barton found guilty of assaulting his wife
Danny Jones
Ex-footballer Joey Barton has officially been found guilty of assaulting his wife following his two-day trial in the capital this week.
Barton, who played for Manchester City, Newcastle United, Queens Park Rangers and a number of other clubs, was convicted at Westminster Magistrates’ Court on Tuesday, 25 March, following an incident back in June 2021.
The former midfielder left his wife, 37-year-old Georgia Barton (McNeil), with a bleeding nose and a bruise on her forehead following a drunken row at their home in London.
Barton is said to have grabbed and pushed her to the floor before kicking her in the head. Married in 2019, the two have four children and are thought to still be together.
The 42-year-old was still employed in professional football as the manager of Bristol Rovers at the time, but he was ultimately sacked in October 2023.
His wife called 999 at the time, telling police that he had hit her, but later retracted her statement.
Born in Huyton, Merseyside, the chief magistrate Paul Goldspring recognised that the one-time England has a history of violence.
He was given a 12-week suspended prison sentence, meaning he won’t serve time unless he commits another offence and has been ordered to pay £2,138.
Since dropping out of mainstream football, in particular, Barton has come under heavy criticism for allegations of racism, sexism and controversial right-wing politics; he even started an ‘anti-woke’ podcast called Common Sense with Joey Barton.
Back in June of last year, he was ordered to pay £35,000 in damages to settle a libel claim with presenter Jeremy Vine after a series of inflammatory comments made online.
The Radio 2 presenter sued Mr Barton earlier this year, after the former footballer wrote a series of posts suggesting Mr Vine had a sexual interest in children.
He also accused of threatening fellow former pro, Eni Aluko, after a torrent of abuse regarding her punditry online – the ex-England international even went so far as to say she no longer felt safe staying in the country.
Police appeal after man seriously injured in Northern Quarter stabbing
Daisy Jackson
Greater Manchester Police are appealing for witnesses after a stabbing in the Northern Quarter left a man seriously injured.
The incident occurred around 7.45pm on Thursday 20 March, on Tib Street near Market Street and Piccadilly Gardens.
Emergency services scrambled to the scene and the victim, a man in his 20s, taken to hospital with serious injuries.
Thankfully his injuries aren’t believed to be life-threatening or life-changing.
No arrests have yet been made and officers are now appealing for witnesses to assist with enquiries.
DI Geoffrey Machent, of the City of Manchester Division, said: “At around 7.45pm on Thursday 20 March, we were called to reports of a stabbing on Tib Street.
“A man was subsequently taken to hospital with injuries that are not life-threatening or life-changing. He remains there for treatment.
“At this time, we do not believe the incident presents any threat to the wider public or local businesses operating in the area.
“Neighbourhood officers will be deployed to provide reassurance in the locality over the coming days, including our newly formed Piccadilly Gardens team.
“We would like to appeal to the public for any information, or anyone who witnessed this incident, to please come forward.”
If anyone has information regarding this stabbing in the Northern Quarter, contact police by calling 101, or via the Live Chat service at gmp.police.uk.
Alternatively, you can call the independent charity Crimestoppers, anonymously, on 0800 555 111. Always dial 999 in an emergency.
Georgina Pellant -
13th September 2022 
