#news Two-thirds of us say Charles III should stump up for inheritance from the Queen, poll shows  #WorldNews

#news Two-thirds of us say Charles III should stump up for inheritance from the Queen, poll shows  #WorldNews

#information Two-thirds of us say Charles III should stump up for inheritance from the Queen, poll exhibits  #WorldNews

Table of Contents

King ‘should pay tax on inheritance’: Two-thirds of us say Charles III should stump up for inheritance from the Queen, poll exhibits

Nearly two-thirds of the public consider the King should pay tax on his personal inheritance, a poll has discovered.

The Queen agreed to pay revenue and capital good points tax in 1993 – however ‘sovereign-to-sovereign bequests’ are exempt from inheritance tax.

Her Majesty’s private wealth was estimated at £370million, which might make the King liable for an inheritance tax invoice – often charged at 40 per cent above a £325,000 threshold – of £148million. 

Now a survey by YouGov has discovered 63 per cent of the public consider he should pay inheritance tax.

Nearly two-thirds of the public believe the King should pay tax on his private inheritance, a poll has found

Nearly two-thirds of the public consider the King should pay tax on his personal inheritance, a poll has discovered

In the poll, commissioned by marketing campaign group Tax Justice UK, 16 per cent mentioned the King should not pay inheritance tax, whereas 21 per cent didn’t know.

The monarch’s general wealth is estimated to be round £24billion, together with property similar to Buckingham Palace which belongs to him solely in an official capability.

It is managed by the Crown Estate, which surrenders any revenue earned to the Treasury, receiving a portion of this as the Sovereign Grant to fund the monarch’s official duties.

Campaigners have claimed this should be exempt from inheritance tax, whereas the Queen’s private wealth, which included property, personal investments and racehorses, should be taxed.

Robert Palmer, from Tax Justice UK, mentioned: ‘It’s clear {that a} huge majority of the public assume the King should pay inheritance tax on the personal fortunes he has simply inherited.

The monarch’s overall wealth is estimated to be around £24billion, including property such as Buckingham Palace which belongs to him only in an official capacity

The monarch’s general wealth is estimated to be round £24billion, together with property similar to Buckingham Palace which belongs to him solely in an official capability

‘The status quo is pretty ridiculous given how much the Royal Family has in their private fortune.

‘This is just one of many examples of how very wealthy people can pay low levels of tax and legally avoid paying what is due to the Exchequer.’

But defenders of the guidelines argue that it’s fallacious for the Royal Family’s wealth to be whittled away with every era.

Inheritance tax stays deeply controversial as a result of it tends to hit center class earners hardest as very rich people are capable of exploit authorized loopholes, similar to items and trusts.

In 2016, the new Duke of Westminster inherited £9billion virtually tax free when his father died as a result of his property was held in belief.

The consequence of the poll got here as King Charles deliberate a slimmed-down coronation subsequent spring to replicate his new-look monarchy.

Sources have mentioned the new sovereign would love his ceremony to be ‘shorter, smaller and less expensive’ to acknowledge the nation’s cost-of-living disaster and to replicate how the Royal Family will function beneath his management.

YouGov interviewed 1,705 folks between September 15 and 16.

Advertisement

Leave a Comment