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Yes, King Charles III is exempt from paying in heritance tax

According to estimates, Queen Elizabeth II held roughly $500 million in of property, investments, jewellery, and other possessions directly. King Charles III succeeds his mother to the throne and inherits the monarch's large inheritance.

Some claimed that King Charles III wouldn't be forced to pay inheritance taxes on her fortune after her death on September 8 at her Scottish residence Balmoral Castle, despite the fact that others in the United Kingdom are.

In the UK, survivors who inherit a decedent's assets typically must pay a 40% inheritance tax on any fortune that exceeds a certain threshold. According to the British government, inheritance tax is a charge on the estate, which includes the deceased person's goods, money, and property.

The estate's worth is less than the £325,000 cap. If the deceased left their spouse, civil partner, a charity, or a local amateur sports team everything over the £325,000 threshold.

The king would have had to pay the 40% tax on the queen's estate because it is worth much more than that, but thanks to a deal the queen made in 1993, this is not the case.

The government criticised the monarch for receiving special tax treatment because of the crown's tax-exempt status, according to news reports from the time, and the monarch agreed to pay income tax for the first time since the 1930s.

According to reports, when then-Prime Minister John Major announced that the queen had consented to pay taxes, Parliament was taken aback.

Major said in a 1993 record from Parliament that the queen willingly decided to pay the highest rate of income tax on her yearly private income and capital gains. That number was 40% in 1993; it increased to 45% in 2021.

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