Under a government agreement, King Charles III won't have to pay the U.K.'s standard 40% inheritance tax on the massive wealth he inherits from his mother, Queen Elizabeth II.
In 1993, Queen Elizabeth II and her heir, then-Prince Charles, reached a deal with the government in which they agreed to voluntarily pay taxes — but to be exempt from an inheritance tax. Mother and son are seen here in 2019 in London.Paul Edwards /WPA Pool / Getty Images
In 1993, Queen Elizabeth II and her heir, then-Prince Charles, reached a deal with the government in which they agreed to voluntarily pay taxes — but to be exempt from an inheritance tax. Mother and son are seen here in 2019 in London., but he won't have to pay the U.K.'s inheritance tax on the massive wealth he inherits from his late mother, Queen Elizabeth II. That's because of a deal the royals made with the government nearly 30 years ago.
Regular citizens must pay the standard inheritance tax rate of 40% on any part of an estate that's valued above a threshold of 325,000 pounds . There areBut under an agreement with the monarchy that then-Prime Minister John Major
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