The King should pay tax on inheritance, say 2 in 3

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

The Queen agreed to pay income and capital gains tax in 1993 – but ‘sovereign-to-sovereign bequests’ are exempt from inheritance tax.

Her Majesty’s personal wealth was estimated at £370million, which would make the King liable for an inheritance tax bill – usually charged at 40 per cent above a £325,000 threshold – of £148million. Now a survey by YouGov has found 63 per cent of the public believe he should pay inheritance tax.

In the poll, commissioned by campaign group Tax Justice UK, 16 per cent said the King should not pay inheritance tax, while 21 per cent did not know.

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.