When Queen Elizabeth II died, it’s fair to wonder how much her family members gained as part of their inheritance. As heir to the throne and the next Duke of Cornwall, Prince William’s net worth is particularly interesting.
No one can know for sure how wealthy the British royal family is, but despite Buckingham Palace staying mum on the details of their financials, there are some things that are known.
Neither King Charles III, nor any members of the family, including Prince William that receive an inheritance following the Queen’s death will be required to pay tax on that inheritance.
That’s because of a 1993 agreement with the British government. The nation’s then-Prime Minister John Major said that “unique circumstances of an hereditary monarchy” and that “there should be specific exemptions for assets passing from one sovereign to his or her successor.” For everyone else in the United Kingdom, a 40 percent levy is applied to inherited assets valued at more than £325,000 (close to $376,000).
Read more on stylecaster.com
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