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          A woman walking in a field with a jerrycan of water on her back, spraying water on the vegetation

          The Ethiopia Medical Project (EMP)

          A thistle flowerr

          Is it time tae think again about Flower of Scotland?

          Eu flag on the left, UK flag on the right. Both are windblown. A large lightening bolt inbetween them.

          Glasgow Loves EU campaigners brave wind and rain to keep a light on for Scotland

          blue background, A younf woman holding a large black sign that says VOTE ! in white letters

          Scottish elections: young people more likely to vote if they started at 16 – new study

          Healthcare word seen in a scrabble

          “Leave no one behind” – the Health Foundation’s report into health inequalities in Scotland 2023.

          Sign saying NHS Greater Galsgow & Clyde in front of a hospital building

          Concern over patients waiting in corridors for free beds at Glasgow Superhospital

          A row of tall houses on the left, with parked cars in front on the side of the street

          Saving Scotland’s tenements

          Ben Nevis. Forground has green shrubbery, then background a mountain with two tops. Blue sky with a few streaky clouds

          Exploring the Highest Mountain in the British Isles: A Guide to Ben Nevis

          Image via Steller Systems, a potential candidate.

          Cancelling future frigates could be final nail in the coffin for the UK

          Trending Tags

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          • Brexit
          • Ukraine
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          • All
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          blue background, A younf woman holding a large black sign that says VOTE ! in white letters

          Scottish elections: young people more likely to vote if they started at 16 – new study

          A scene of people demonstrating, holding Scotland flags. One man wears a tartan cap and holds a blue flag with both the Scottish cross and the EU stars on it.

          Is Alister Jack sane?

          Image Malcom Laverty

          The Brown plan

          The climate change impacts of Russia’s war with Ukraine

          Britain wastes £1bn on drones to monitor English Channel

          The Autumn Statement – time to take a closer look

          Photo Mtaylor848, CC BY-SA 4.0, via Wikimedia Commons.

          Christmas cheer for Tesco if grim reading for the political classes

          Scottish independence isn’t going away

          Russia as a low-tech nation

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          • Equality
          • Johnson
          • Scottish National Party
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          A row of tall houses on the left, with parked cars in front on the side of the street

          Saving Scotland’s tenements

          A large red researcgh vessel in the sea with ice sheets all around it on the water.

          Rosyth shipyard attracts UK Government contract to maintain fleet of scientific research vessels

          large posts saying 'Glasgow Airport Business Park' on the left and right of a road leading away from the main road in the front. . On that road leading away building with walls almost entirely existing of windows.

          Why doing business in Scotland may be better for your corporate wellbeing

          A mountain of spools forming a tree on the left, a sandy area to the right and a row of houses at the back. mountains in the distance on the right

          The Ullapool Giving Tree

          Electric off-roader heralds return of vehicle mass-production in Scotland after 40 years

          Photo Mtaylor848, CC BY-SA 4.0, via Wikimedia Commons.

          Christmas cheer for Tesco if grim reading for the political classes

          Ferguson Marine will weather the storm

          Order placed for remaining five Type 26 Frigates on the Clyde

          Police Scotland not investigating Scottish government over ferry contract criminality

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            The Ethiopia Medical Project (EMP)

            Healthcare word seen in a scrabble

            “Leave no one behind” – the Health Foundation’s report into health inequalities in Scotland 2023.

            Sign saying NHS Greater Galsgow & Clyde in front of a hospital building

            Concern over patients waiting in corridors for free beds at Glasgow Superhospital

            A hospital corridor with trolleys on the sides.

            Glasgow hospitals halt non-urgent operations due to pressure

            Two more unions reject Scottish Government NHS pay offer

            GMB union reject Scottish Government pay offer to NHS staff

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            How careful should we be when choosing a scientific term?

            Code Black – A mayday from the Queen Elizabeth University Hospital

            The challenges facing mental health care in Scotland

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              Ardnish wildfire by Leslie Barrie, CC BY-SA 2.0 Creative Commons — Attribution-ShareAlike 2.0 Generic — CC BY-SA 2.0, via Wikimedia Commons'

              Fire threats in the Scottish countryside

              Wood stove at the foot of the bed in the Danish Blue room at Pig Hill Inn, Cold Spring, New York. Printed with permission and confirmed to be licensed under the terms of the cc-by-2.0.

              When smoke gets in your eyes

              Opening of the United Nations Climate Change Conference COP27 in Egypt. Photo courtesy of the UNFCCC

              COP27 and the inconvenient truth

              Viscum album in trees

              Night of the strangling figs: a biological horror story

              Out & about with Charlie Mac: Cycling to the heart of Scotland – the National Cycle Network 7

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              Home News King Charles III

              King Charles and his zero inheritance tax

              Paying inheritance tax like millions of his subjects is early test of the King’s desire to modernise the monarchy

              Charlie McCarthybyCharlie McCarthy
              17-09-2022 06:00
              in King Charles III
              Balmoral Castle in Aberdeenshire, Scotland, from the park in the south. Photograph by Daniel Kraft with permission under the Creative Commons Attribution-Share Alike 3.0 Unported license

              Balmoral Castle in Aberdeenshire, Scotland, from the park in the south. Photograph by Daniel Kraft with permission under the Creative Commons Attribution-Share Alike 3.0 Unported license

              Share on FacebookShare on Twitter

              The 1993 Report of the Royal Trustees states that the Queen is not legally liable to pay inheritance tax on assets transferred to her son and heir Charles III. Gifts to anyone other than Charles will be treated as they normally are in the UK and are subject to a 40% tax rate.

              The rules on inheritance tax in the UK are clear and unambiguous, the standard rate of inheritance tax is 40% on all assets of an estate above £325,000. The estate may pay a reduced rate of 36% on some assets if you leave at least 10% of the ‘net value’ to charity in your will.

              The crown estate has £15.2bn in assets, of which 25% of the profits are given to the royal family as the sovereign grant. These assets cannot be sold by the King. They are in effect surrendered to the government in return for a grant.

              A litmus test of our new King’s intent to modernise the monarchy

              The King is exempt from inheritance tax in order to preserve “a degree of financial independence from the government of the day.”

              King Charles has stated that he wants to modernise the monarchy and slim down the numbers of Royals supported by the State. Paying tax like every UK citizen would be an ideal way of demonstrating his intent, indicating that we have indeed entered a new era. Paying tax like the rest of us would immediately bring the monarchy closer to the people.

              These are big calls to make in the earliest days of the reign of the new King. It is a litmus test. The decision will signify the new King’s intent. Whilst we are all sorry for his loss, he now has an early opportunity to show us that he is indeed a King for the 21st Century.


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              Tags: Inheritance TaxKing Charles IIIMonarchy
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              Charlie McCarthy

              Charlie McCarthy

              Charlie writes the "Out and About" monthly column for Bylines Scotland as well as a number of other features. Charlie lived for many years in North Yorkshire before moving back to Scotland. Originally from Glasgow, he lived in the North of England for most of his life. Before becoming a writer, Charlie was a science teacher. His areas of interest include politics, the environment and education.

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