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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BBC releases first look of new drama series based on inspirational journey of England men’s football team
Emily Sergeant
First look images of a new BBC drama series based on award-winning play Dear England have been released.
The four-part series based on James Graham’s Olivier-award winning play of the same name tells the story of Gareth Southgate and the England men’s football team journey to renewed success, and it’s set to air on BBC One and iPlayer next year.
Dear England is a fictionalised account of the struggles and successes of England’s football teams, based on extensive research and interviews.
The stage play premiered at the National Theatre to five-star reviews, winning an Olivier award for ‘Best New Play’, and enjoying a sell-out run in 2023 before it returned to the National Theatre earlier this year and then embarked on a national tour.
The first look images of new BBC series Dear England have been released / Credit: BBC
With the worst team track record for penalties in the world when he takes over as manager, Gareth knows he needs to open his mind and face up to the years of hurt to take England back to the promised land.
The country that gave the world football has delivered a painful pattern of loss. Why can’t the England team win at their own game?
Joseph Fiennes will reprise his Olivier award-nominated role as Gareth Southgate in the new series.
Joseph Fiennes will star as former manager Gareth Southgate / Credit: BBC
The first look pictures see Fiennes in his role for the first time in scenes depicting England’s triumphant Euro 2024 Semi-Final celebrations, where the men’s team reached their first final of a major tournament on foreign soil.
Fiennes is joined by Jodie Whittaker as England men’s team psychologist Pippa Grange, and Daniel Ryan as Steve Holland the former assistant manager, whilst Will Antenbring stars as Harry Kane, joined by an ensemble cast of upcoming actors as the rest of the team.
Among the squad cast is Adam Hugill, Josh Barrow, and screen newcomer Lewis Shepherd, who are all reprising their respective stage roles as Harry Maguire, Jordan Pickford, and Dele Alli.
Dear England will air on BBC One and iPlayer in the new year, with exact air dates set to be announced in due course.
Featured Image – BBC
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World’s rarest lions arrive at Chester Zoo as part of global breeding programme
Emily Sergeant
Two of the world’s rarest lions have arrived at Chester Zoo as part of efforts to protect the highly endangered animals from extinction.
The pair, a male named Nilay, who has travelled from Köln Zoo in Germany, and a female named Shanti, who has arrived from London Zoo, are Asiatic lions who have been carefully matched with each other following what has been described as a ‘detailed genetic analysis’ as part of an international conservation breeding programme.
Conservationists say the pair have ‘formed an instant connection’, and are hopeful that they’ll go on to have cubs in the future.
Chester Zoo has been identified as a ‘key player’ in helping to safeguard the long-term survival of Asiatic lions – a breed of which there are thought to be fewer than 900 of in the wild.
The world’s rarest lions have arrived at Chester Zoo as part of a global breeding programme / Credit: Chester Zoo
Carnivore experts at the zoo have released the first images of the iconic cats exploring their expansive new home, which has been specially designed to recreate the dry forests and scrublands of India’s Gir Forest – the only place on Earth where Asiatic lions still exist in the wild.
Asiatic lions are classified as endangered by the International Union for the Conservation of Nature (IUCN), which only reinforces the need for urgent conservation intervention.
Experts warn that, without effective conservation, the big cats could follow in the footsteps of the Barbary and Persian lions – that once roamed North Africa and the Middle East – and vanish from the wild all together.
“The arrival of Nilay and Shanti marks an exciting new chapter in our conservation efforts to protect one of the world’s most extraordinary and endangered animals,” explained Dave Hall, who is the Team Manager of Carnivores at Chester Zoo.
“Now that they’ve had time to settle in, we’ve successfully introduced the pair to one another in a special behind-the-scenes area, and the early signs are incredibly positive.
“We’re hopeful that as their bond grows stronger, we may one day have a pride again here at Chester, which would be another truly special milestone for the safety-net population of Asiatic lions.”
Georgina Pellant -
13th September 2022 
