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.
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’.
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.
“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
News
Tatton Park makes decision to temporarily close gate after visitor is attacked by rutting deer
Emily Sergeant
Tatton Park has made the decision to temporarily close one of its gates after a member of the public following a ‘recent change in deer activity’.
It comes after ‘a couple of injuries’ despite warnings and a large amount of signage across the park.
The decision to close the Knutsford gate had to be taken by Tatton management with input from Cheshire East Council’s health and safety manager, and its director of growth and enterprise, along with ‘expert advice’ from the leading deer vet who works across many deer parks in the UK.
The Knutsford gate will be closed to pedestrians and vehicles ‘until further notice’, but the Dog Wood entrance and the main Rostherne entrance will remain open.
Tatton Park cited a current ‘larger number’ of stags than usual found feeding on fallen acorns near the Knutsford entrance, and an overall ‘recent shift in our deer herd’s behaviour during the rutting season’ as the reason for the gate’s closure in a statement shared to social media this week.
Rutting season – which refers to the autumn deer breeding season, typically from late September to early November in the UK – is when deer herds may exhibit aggression if approached.
“If you come across wild deer whilst visiting, we strongly advise you take an alternative route,” the park said in its statement.
The park’s Operations Team added in a statement, as reported by the MEN: “Despite all warnings, a large amount of signage, staff being on hand to advise people to avoid the deer, and all efforts to try to re-route people and get them to stop approaching the deer, we have unfortunately had a couple of injuries.”
One of the ‘injuries’ referred to was an incident involving 67-year-old man named Rod Savage, who was reportedly hurled up in the air after a large stag suddenly appeared and charged at him with his antlers, puncturing his stomach.
Tatton Park temporarily closes its gate after a visitor is attacked by rutting deer / Credit: Diana Parkhouse (via Unsplash)
The terrifying ordeal happened just 300 yards inside the Knutsford entrance, contributing to the gate’s temporary closure.
Tatton Park has now issued warnings and advice to all future visitors.
People are being told to ‘never walk between the deer’ and ‘never put yourself between deer and a fence’, while always maintaining a safe distance of 50m or more when possible, and ultimately remaining vigilant and fully-aware of your surroundings at all times.
“We’ll be monitoring the situation daily and continue to provide updates,” the park concluded in its statement on social media.
“We apologise for any inconvenience and thank you for your understanding.”
Featured Image – Diana Parkhouse (via Unsplash)
News
Shocking new study reveals that almost 100 people a day are caught drink-driving
Emily Sergeant
Nearly 100 drivers a day in Britain have had ‘drink-drive endorsements’ added to their licences in the past three years, a shocking new study has revealed.
Alarmingly, it’s people between the ages of 25 and 39 that are the most frequently penalised for drink-driving – with around 48,000 drivers in this age bracket being handed endorsements, followed closely by 40,000 drivers aged 40 to 65.
In contrast, only 15,000 drivers aged 17 to 24 were penalised, and a mere 3,000 over-65s received points on their licence between 2022 and 2024.
It’s all according to a study by road safety charity, IAM RoadSmart, using data obtained from the DVLA via a Freedom of Information request.
A shocking new study has revealed that almost 100 people a day are caught drink-driving / Credit: Pexels
Drivers caught over the alcohol limit face automatic licence revocation, potential imprisonment, and unlimited fines, while the endorsement remains on a driving licence for 11 years.
Another shocking revelation from the study is that fatalities linked to drink-driving have climbed over the past decade, peaking in 2022 at the highest level in 13 years – with the RAC saying this trend ‘raises alarms’ about the effectiveness of current road safety measures.
RAC road safety spokesperson Rod Dennis called it ‘completely unacceptable’.
“These disturbing figures show the twin evils of driving under the influence of drink and drugs are behind a frightening number of lives lost on the UK’s roads every year,” he commented.
A third of Brits want police to immediately ban drink drivers at the roadside / Credit – Vladimir Proskurovskiy (via Unsplash)
“A new approach to tackling these repugnant crimes is desperately needed. We hope this will be a key part of the Government’s forthcoming road safety strategy, [as] we’ve consistently been calling for a change in approach when it comes to reducing alcohol-related road deaths, as it’s clear the status quo isn’t working.”
The RAC has been campaigning for courts being given the powers to mandate the fitting of alcohol interlocks (‘alcolocks’) to offenders’ vehicles to prevent them driving drunk again.
It is also ‘supportive’ of the police being given the powers to immediately disqualify any driver who fails a drink or drugs test at the roadside.
Georgina Pellant -
13th September 2022 
