Culled from UK Express
King Charles III will not pay tax on money inherited from Queen Elizabeth II, it has today emerged.
Any inheritance is passed “sovereign to sovereign” under a 1993 clause pushed through by John Major.
The monarch, 73, is therefore exempt from inheritance tax on these assets, among others, in order to preserve “a degree of financial independence from the government of the day”.
The government guidance adds: “The monarchy as an institution needs sufficient private resources to enable it to continue to perform its traditional role in national life.”
Charles was proclaimed the nation’s new sovereign on Saturday morning.
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His mother died peacefully at her Balmoral estate on Thursday aged 96, surrounded by her family who had flocked to see her.
The Queen’s coffin will remain lying in state tomorrow as the public has the opportunity to pay respects. A rehearsal will also take place for the state funeral procession.
The ceremony itself, which will happen on Monday at Westminster Abbey, will see world leaders pay their respects to the UK’s longest-serving monarch.
World leaders who have already confirmed attendance through public statements or in multiple media reports include:
Australian Prime Minister Anthony Albanese
Austrian President, Alexander Van der Bellen
Brazilian President Jair Bolsonaro
Canada Prime Minister Justin Trudeau
European Council President Charles Michel
European Commission President Ursula von der Leyen
Finland 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
Mexico’s Foreign Minister Marcelo Ebrard
New Zealand Prime Minister Jacinda Ardern
Latvian President Egils Levits
Lithuanian President Gitanas Nauseda
Prime minister of Palestine Mohammad Shtayyeh
Poland’s President Andrzej Duda
President Cyril Ramaphosa of South Africa
South Korean President Yoon Suk-yeol
Sri Lankan President Ranil Wickremesinghe
Trinidad and Tobago President Paula-Mae Weekes
Turkish President Recep Tayyip Erdoğan
US President Joe Biden and First Lady Jill Biden
