King Charles III will not pay tax on the inheritance of Queen Elizabeth II | royal | New

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King Charles III will not pay tax on money inherited from Queen Elizabeth II, we learned today.

All inheritance passes “sovereign to sovereign” under a 1993 clause imposed by John Major.

The 73-year-old monarch is therefore exempt from inheritance tax on these assets, among other things, in order to preserve “a certain financial independence from the government of the day”.

The government guidelines add: “The monarchy as an institution needs sufficient private resources to enable it to continue to play its traditional role in national life.”

Charles was proclaimed the country’s new ruler on Saturday morning, reports birmingham live.

Her mother died peacefully at her Balmoral estate on Thursday at the age of 96, surrounded by family who had flocked to see her.

Taxpayers reacted on Twitter to the development.

One wrote: “So they can keep their immense wealth, but we have to pay 40% of the little we inherit from our hard-working parents (who have already paid taxes on this money) to the government? »

Another user tweeted: No one should pay inheritance tax.”

A third shared: “That’s fundamentally wrong. One rule for me and another for you.”

But one man posted: “He inherited nothing. He can’t sell anything, it’s not his, it’s the rulers.”

The Queen’s coffin will remain unaltered tomorrow as the public has the opportunity to pay their respects. A rehearsal will also take place for the national funeral procession.

The ceremony itself, which will take place at Westminster Abbey on Monday, will see world leaders pay their respects to Britain’s longest-serving monarch.

World leaders who have already confirmed their presence through public statements or in multiple media reports include:

  • Australian Prime Minister Anthony Albanese
  • Austrian President, Alexander Van der Bellen
  • Brazilian President Jair Bolsonaro
  • Canadian Prime Minister, Justin Trudeau
  • President of the European Council Charles Michel
  • Ursula von der Leyen, President of the European Commission
  • Finnish President Sauli Niinisto
  • French President Emmanuel Macron
  • German President Frank-Walter Steinmeier
  • Hungarian President Katalin Novak
  • Israeli Prime Minister Isaac Herzog
  • Italian President Sergio Mattarella
  • Marcelo Ebrard, Mexican Minister of Foreign Affairs
  • Jacinda Ardern, Prime Minister of New Zealand
  • Latvian President Egils Levits
  • Lithuanian President Gitanas Nauseda
  • Palestinian Prime Minister Mohammad Shtayyeh
  • Polish President Andrzej Duda
  • President Cyril Ramaphosa of South Africa
  • South Korean President Yoon Suk-yeol
  • Sri Lankan President Ranil Wickremesinghe
  • Paula-Mae Weekes, President of Trinidad and Tobago
  • Turkish President Recep Tayyip Erdoğan
  • US President Joe Biden and First Lady Jill Biden

British Prime Minister Liz Truss is expected to attend alongside Labor leader Sir Keir Starmer. Scottish First Minister Nicola Sturgeon and Irish Prime Minister Michael Martin will also travel to London for the service.

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