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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Three Manchester motorways named in UK’s top 10 ‘most challenging’
Emily Sergeant
Three motorways in and around Manchester have been named the ‘most challenging’ in the UK.
As part of MoneySuperMarket’s new Great British Motorway Report, new research has found that one in three UK motorists find motorway driving ‘stressful’ – despite more than 70 billion miles being travelled on Britain’s motorways each year.
From delays and congestion to high traffic levels, there are a number of factors that can contribute to driver stress levels.
But are some motorways more challenging for drivers than others? According to the data, yes. And three of the top 10 worst motorways in the UK are in and around Greater Manchester.
To find out which are the most challenging, MoneySuperMarket analysed everything from collision rates and roadworks, to lane closures and driver feedback in order to reveal the top 10.
Manchester is home to three of the UK’s top 10 most challenging motorways – the M602, M62, and M60, the latter of which took the top spot on the list.
Three Manchester motorways have been named in the UK’s top 10 ‘most challenging’ / Credit: pxfuel
Encircling Greater Manchester and linking many of the region’s motorways, the M60 recorded the lowest overall score in the index.
Despite handling significant volumes of traffic, the M60 experienced some of the highest average delays, at 15.58 seconds per vehicle per mile, and alongside this, it saw 34 collisions in the past year alone. But despite these challenges, the M60 remains an essential route for regional connectivity, and often cannot be bypassed.
“If you’re feeling anxious, allow extra time for your journey so you don’t feel pressured to rush or make last-minute decisions,” commented Alicia Hempsted at MoneySuperMarket.
“Plan your route in advance, including where you’ll stop for breaks, as regular rest stops can help you stay alert and reduce stress on longer trips, and if you’re travelling alone, consider sharing your route with someone you trust if it helps you feel more comfortable.”
Featured Image – Mike Birdy (via Pexels)
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Chinatown restaurant pleads for help after dine-and-dash customer leaves staff member in A&E
Daisy Jackson
A brilliant restaurant in Manchester’s Chinatown has shared CCTV and a heartfelt appeal after one of its staff members was left in A&E.
Noodle Alley shared that one of its young staff members chased after a group of dine-and-dash customers who’d left without paying for their meal.
The restaurant then said that she was ‘assaulted’ at some point in the chase and ended up in A&E.
In their statement, Noodle Alley said that the staff member ‘had treated them kindly and never expected that kindness to come back to her like this’.
They wrote: “What has this world come to? A violent man sent our staff to A&E over an unpaid meal.”
The CCTV shows a group of three young men, all carrying Selfridges shopping bags, entering the restaurant.
They sit and enjoy a meal, before two of them slip out of the restaurant. The third man then exits but is chased by a Noodle Alley staff member.
It’s at this point – out of the range of the restaurant’s CCTV – that they said she was assaulted ‘after going beyond her duty to try and recover what had been taken’.
The family business said that she has been ’emotionally affected’ by the incident.
The police are involved and the restaurant has appealed for anyone who can help with their investigation to get in touch.
It’s also the second time they’ve appealed about a dine-and-dash customer in the last few months, but this incident went ‘far beyond’ previous incidents.
In their full statement, Noodle Alley said: “We’re a small family business, and lately it feels like small businesses are being targeted again and again.
“But this time, it went far beyond anything we have experienced before.
“One of our young staff members — a girl simply doing her job — was assaulted after going beyond her duty to try to recover what had been taken from our restaurant. She ended up in A&E.
“What hurts us most is seeing how emotionally affected she has been by what happened. She told us she had treated them kindly and never expected that kindness to come back to her like this.
“We work hard to look after our staff and our customers, and nobody should have to go through this simply for doing their job.
“We have reported the incident to the police.
“If anyone recognises these individuals or has any information that could help the police with their investigation, please contact us or the police directly.
“We’re sharing this because we believe our staff deserve to feel safe at work.”
Georgina Pellant -
13th September 2022 
