Queen Elizabeth’s death has brought attention to the unique British tax laws that exempt her successor, King Charles, from all inheritance taxes.
While the British royal family has an estimated fortune of $28 billion, the queen’s personal assets are estimated at $750 million. A normal subject inheriting that amount would pay a 40 percent death tax or $300 million.”
The British government explains the royal exemption by saying it was designed to guard against the royal family’s assets being wiped out if two monarchs were “to die in a short period of time.” In other words, the high British inheritance tax could cause the value of such an estate to plunge 65 percent or more.
Good point. Why not extend that sound policy to ALL British families? And why not here in the USA as well? As Steve Forbes likes to say: No taxation without respiration.