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.”
‘Relentless common sense’ – Elizabeth II's leadership style, her wealth, and the Royals' 'Marmite jar' brand strategy. My analysis of what may change with a new boss at "The Firm" #QueenElizabeth#KingCharleshttps://t.co/KkIt6DKsiC
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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The Strokes announce first Manchester gig in two decades
Daisy Jackson
The Strokes are finally set to return to Manchester for the first time in years, announcing a huge arena show today.
The iconic indie rockers have shared details of a new European tour, which includes a night at the massive Co-op Live arena here in Manchester.
The news comes hot off the heels of their celebrated Coachella set over the weekend.
The Reality Awaits Tour, named after their upcoming seventh studio album, will take The Strokes to Manchester as well as London and Newcastle, plus several cities across Europe.
The Strokes broke into the industry back in 2001 with their seminal debut album Is This It, which spawned massive indie anthems like Last Nite, Hard To Explain, and Sometimes.
Since then, they’ve released six studio albums, all of which have climbed into the top 10 of the UK Albums Chart.
You can expect to hear all sorts of fan favourites, like Reptilia, Juicebox, and You Only Live Once, plus new music including their latest single The New Abnormal.
Co-op Live said: “This is set to be an unmissable show as they come to Co-op Live for the first time and we can’t wait!”
Last time The Strokes played in Manchester, it was at the O2 Apollo way back in 2006 – the same year they supported Foo Fighters at Emirates Old Trafford Cricket Ground.
They played Lytham Festival more recently, but haven’t ventured back into Manchester itself since.
The Strokes will play at Co-op Live in Manchester on 26 October 2026.
Tickets will go on sale at 10am on Friday 17 April HERE, with a number of pre-sales beginning from Wednesday 15 April.
Manchester Museum to close much-loved section for ‘major’ £200k redevelopment
Emily Sergeant
Manchester Museum has announced that it’s planning to close of its best-loved exhibitions.
Thanks to a grant of £200,000 from the Department of Culture, Media and Sport’s (DCMS) Museums and Galleries Improvement Fund, Manchester Museum is planning a major redevelopment of its much-loved Vivarium.
The Vivarium has sat at the heart of Manchester Museum for more than 60 years, and is a centre for globally-significant conservation projects, caring for around 30 different amphibian and reptile species – many of which are critically endangered – in a bid to inspire generations of visitors.
Thanks to a pioneering partnership with Panama Wildlife Conservation Charity, which is just one of many projects designed to safeguard the future of endangered species and develop learning programmes that raise awareness of threats to biodiversity, Manchester Museum houses the world’s only captive ‘back-up’ population – which is why the redevelopment of the Vivarium is so important.
The funding grant will help to ‘revitalise’ public displays, and create new state-of-the art facilities and bespoke naturalistic environments for the amphibian and reptile species cared for by the Vivarium.
It will also allow the development of dedicated facilities for schools, teaching, and visiting tour groups, which the Museum hopes will ‘further enhance’ the gallery’s potential for learning.
During the redevelopment – which has been named the ‘Habitats of Hope’ project – new permanent displays will also be created that explore the connections between its wider collections and the animals it cares for.
Manchester Museum is set to close one of its much-loved sections for ‘major’ £200k redevelopment / Credit: Supplied
“Habitats of Hope speaks to how wonderful and how vulnerable the world’s rarest amphibians are” commented Georgina Young, who is the Head of Collections and Exhibitions at Manchester Museum.
“Major investment means Manchester Museum can match the highest standards of animal care with a more accessible visitor experience, while weaving stories of research, conservation, partnership and action that stretch from thriving ponds in Manchester to hyper-biodiverse ecosystems in Costa Rica and Panama.”
Georgina Pellant -
13th September 2022 
