King’s Legacy – Vedomosti

Elizabeth II was known for her frugality. “Newspapers are shredded for horse bedding, parcel string is reused, frayed sheets and rags are darned,” wrote The Sunday Times. But frugality did not bring her much wealth. The Queen was not even included in the list of the 250 richest people in the UK according to this newspaper. This year, to get into it, you need to have at least 650 million pounds. Elizabeth II had, according to Forbes and Business Insider, at best $ 500 million, according to The Sunday Times – 370 million pounds.

If Charles III were an ordinary person, this amount would have been greatly reduced. Under British law, heirs must pay a 40% tax on amounts exceeding £325,000. There is only one exception: everything that the monarch or his spouse will bequeath to the new king is not taxed. The monarch does not work for pay or trade to increase his wealth, as ordinary people do, the Daily Express explains. If the property of the monarch were subject to inheritance tax over and over again, nothing would remain of his fortune.