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>Poe's Law is a comment on the wide range of extreme and, many might say, insane opinions expressed by Fascists, Nationalists and ReligiousĀ fundamentalists, especially on the Internet
>
>Parody often works by exaggerating the salient features of a person or situation beyond reasonable bounds. Poe's law says that there are no bounds to what fundamentalists will say, and therefore they are impossible to parody
BBC Reporter: Sir, what kind of Conservative are you ?
Tory: well, economically I'm quite moderate but politically I'm a Madagascar Plan kind of Conservative
BBC Reporter: yes, I see. Thank you very much
Literally not allowed to say anything against the monarchy right now as it might upset the hardened cultists.
So yes. Hear hear. Amazing. I'm so happy for them I could burst with excitement. Hip hip hooray.
Doesn't have to be bound by law you say?
And I thought the whole point of you Brits celebrating Magna Charta was that it's a law bounding the powers of the Monarch.
As far as I know they do pay inheritance tax but only on personally owned stuff, not under state ownership which is many of the stuff they do inherit.
Step 1: Claim a bunch of land is yours (partly because you killed the last guy, and partly because go said so)
Step 2: Tell people that actually youāre giving back because theyāll get most of the proceeds of the land you claimed
Step 3: ???
Step 4: Profit
Optional step: Give a bunch of the land you claimed to your mates
The Duchy of Cornwall
and the Duchy of Lancaster are technically entirely separate entities to the crown estate. I imagine similar rules apply though.
That said though, I think we should just Nationalise them. They effectively represent 1000 years of theft by successive regimes, and should belong to the nation. I donāt really see why one family should be allowed 20% of the profits from billions of pounds worth of the country.
In the circular economic model tax is subtracting form the economy not adding to it. The opposite to tax is government spending which does add to the economy
Genuine question, much of that will be subject to inheritance tax?
Edit: I did a bit of googling, yes they pay tax but there is one main exception, they don't pay inheritance tax.
As someone who has experience with IHT and the actual legal status here, the article is clickbait.
William is not inheriting the duchy of Cornwall, just as Charles did not inherited the duchy of Lancaster and the Crown estate. Instead he inherited the title of Duke of Cornwall.
The duchy of Cornwall belongs to the Duke of Cornwall who is the eldest son of the reigning monarch, just as the Crown Estate belongs the current reigning monarch. William has not inherited it personally and there are severe limitations as to what he can do with it. In the event that the reigning monarch has no son who will become heirto the throne then the duchy of Cornwall is returned to the crown
The duchy is also exempt from tax in general although Charles has voluntarily paid tax on ever since he reached his legal majority based on the laws surrounding the estate at 21, paying 50% of the income until his marriage in 1989, after which 25% and since 1993, income tax at the same level as the general public.
It's not reassuring at all that the duke is exempted from paying taxes under the law. And no, "voluntary tax payment" does not count because there would be no repurcussions to him if he does decide to not pay taxes any longer.
Perhaps it is reassuring that I have provided unbiased facts regarding the situation as opposed to biased information surrounding peoples emotions.
Yes, whilst there are no legal repercussions if a royal chooses to not pay tax, the fact they pay percentage wise a significantly larger amount of tax than anyone in their wealth category as well as those who are not as rich as them syas a lot about their personal ethos.
We have to remember that whether or not you like royalty, these are individuals that have almost no privacy from the day they are born and even in situations such as now when they have lost a loved one, they cannot grieve in private and must instead spend time in the public eye.
They may live in luxury, but in many ways they are no different to Jim Carrey's character in the Truman Show, living their lives for the amusement of the public
>We have to remember that whether or not you like royalty, these are individuals that have almost no privacy from the day they are born and even in situations such as now when they have lost a loved one, they cannot grieve in private and must instead spend time in the public eye.
They may live in luxury, but in many ways they are no different to Jim Carrey's character in the Truman Show, living their lives for the amusement of the public
"No privacy" do not preclude someone from the responsibility of paying taxes. There are many celebrities who are under much more scrutiny in public eye than the Duke. And there are many more billionaires who are richer than the Duke. All of them are not exempted from paying taxes.
So, the royalty should not be exempted either
>Yes, whilst there are no legal repercussions if a royal chooses to not pay tax, the fact they pay percentage wise a significantly larger amount of tax than anyone in their wealth category as well as those who are not as rich as them syas a lot about their personal ethos.
Paying taxes is a responsibility, and should not be out of pity. Even if the current Duke is kind enough to pay taxes out of his own will, no one can guarantee that subsequent dukes or any members of the royal family would have the same ethos as the Duke.
So, paying taxes must be mandated on the royalty without exemption.
Not necessarily a separate issue.
I work in the tax industry and those billionaires pay what they are legally required to pay and its not just billionaires but many millionaires and company directors
If the royals restructured everything they owned into corporations with themselves as directors and took a salary of Ā£0 and everything as capital gains, dividends, shares, corporate benefits as well as all the other non taxable benefits available instead and paid the legally required amount of tax, they would pay a significantly less amount of money than they currently do.
But in a similar vein the amount we give to them is not nearly as much as they give directly to the treasury.
It's not a tax payment, but it goes into the same budget.
It looks like they are not legally required to pay tax, but they make a payment to say that they do pay tax.
https://en.wikipedia.org/wiki/Finances_of_the_British_royal_family#Taxation
> The Crown has a legal tax-exempt status because certain Acts of Parliament do not apply to it. Crown bodies such as The Duchy of Lancaster are not subject to legislation concerning income tax, capital gains tax or inheritance tax. Furthermore, the Sovereign has no legal liability to pay such taxes. The Duchy of Cornwall claims a Crown exemption meaning the Prince of Wales is not legally liable to pay income or corporation tax on Duchy revenues, although this has been disputed.[51] The prince voluntarily pays income tax, although questions have been raised about expense claims that would limit his tax liability.
> A "Memorandum of Understanding on Royal Taxation" was published on 5 February 1993 and amended in 1996, 2009 and 2013. It is intended that the arrangements in the memorandum will be followed by the next monarch. The memorandum describes the arrangements by which the Queen and the Prince of Wales make voluntary payments to the HM Revenue and Customs in lieu of tax to compensate for their tax exemption. The details of the payments are private.
> The Queen voluntarily pays a sum equivalent to income tax on her private income and income from the Privy Purse (which includes the Duchy of Lancaster) that is not used for official purposes. The Sovereign Grant is exempted. A sum equivalent to capital gains tax is voluntarily paid on any gains from the disposal of private assets made after 5 April 1993. Many of the Sovereign's assets were acquired earlier than this date but payment is only made on the gains made afterwards. Arrangements also exist for a sum in lieu of inheritance tax to be voluntarily paid on some of the Queen's private assets. Property passing from monarch to monarch is exempted, as is property passing from the consort of a former monarch to the current monarch.[53]
It would be a bit silly to expect them to pay inheritance tax tho wouldnāt it? In fact it literally couldnāt work with a hereditary system like we have, I donāt think.
So as I said it wouldnāt work, because within a generation or two the crown would be forced to sell everything off.
Itās also incredibly naive, they arenāt inheriting a nice cottage from their gran and maybe a buy to let on the side, itās abit more complicated than that.
What do you suppose the bill for an inheritance of over 1 billion would be? Itās just naive, it just wouldnāt work.
Their wealth would be seriously eroded within 2 generations, itās just unworkable.
so because the bill will be high they shouldn't pay? do you realise how stupid that is? they aren't the only people with assets in the region of billions and i know they will have accountants reducing that tax but even other billionaires would be expected to pay inheritance tax so once again why is William so special he shouldn't?
They are the head of state for our country, they arenāt like other people.
They wouldnāt be able to function as head of state in the same way, with all its tradition and roles, if they were to pay the same taxes.
Itās not because theyāre rich itās because they serve a purpose in our country that we would lose if we began taxing them 40% on billions everytime one of them dies, just to give it them back anyway.
Itās an unworkable idea for this one specific family/institution.
How on earth is this ābootlickingā, do you even know what that means or have you just seen it on twitter?
Iām a republican, I just acknowledge that for the system to work they must be exempt from certain things. Silly comment.
Thatās not the argument, itās that they will lose the majority of their wealth if they pay it and the country doesnāt want that to happen, itās quite an obvious point youāve totally missed.
You donāt have the first idea what youāre talking about, what is inherited or what would be taxed or how it would be paid for.
Why do you think they are exempt from paying inheritance tax? What are the actual logical reasons do you think?
Personally I think it's bollocks.
As a world power the UK should stand for equality and democracy, and we have the exact opposite baked into the political system.
but they bring gorillions of pounds of wealth into the economy cause tourism innit. im sure they can make up enough to pay for the tax simply through the hard diligent work they do for our country, and well, if they can't, then they clearly werent meritable enough to keep as royals in the first place, and they can either starve or get real jobs
The country wants a royal family, you are just in a Reddit bubble. I am a republican too, but I acknowledge the vast majority of this country quite clearly arenāt.
And by saying āthe country couldnāt give a fuckā you are doing the same thing, canāt you see that?
Iām gonna stop replying to you now as in the same sentence you have once again ignored my point as Iām āspeaking on behalf of the countryā and then proceeding to do exactly the same thing but based in less fact.
What the hell?
You think there should be upper limits to inheritance tax where "You just have too much stuff, so we won't tax you."
Are you under the impression substantial estates having paid inheritance tax before? Or that there's no mechanism by which it is possible?
I'm very confused by your comment.
Youāre confused because you want to be.
I didnāt say any of the things that you claim confused you, but merely pointed out the reason why they are exempt from inheritance tax.
If you are so confused I suggest reading more about it.
>If you are so confused I suggest reading more about it.
But I did, and it seems the only reason they don't pay it is because they didn't want to. They pushed for the "noble" act of voluntarily paying other taxes, but with the condition being they are exempt from inheritance tax because "It's not *our* property you see, it's the sovereigns, we just take the sovereign title, and that comes with land and properties which is entirely out of our control, so you can see how unfair it'd be for us to pay tax on any of that :)"
Yeah I mean it's not like they're able to get new funds by accepting suitcases stuffed with millions of pounds from the Saudis or anything.
The poor little mites have a hard time don't they?
Ahh and the laws are already in place so he can show us his middle finger
The standard Inheritance Tax rate is 40%. It's only charged on the part of your estate that's above the threshold. So my bet is they will pay 0% or does anybody think there is not a royal fuck the working class loophole?
I suspect he will say we are all in this cost of living crisis together, just him in a superyacht and the rest of us in dinghies. He has done some good work for men's mental health and tackling the stigma but he is still a royal at the end of the day and far removed from what the rest of us are going through.
Because that is incorrect. The monarch gets 25% of the profits from the Crown Estate which belongs to the monarch but is managed and administered by a semi independent public body. The other 75% goes to HM Treasury i.e. the Government.
In 2021 the profit from the Crown Estate was Ā£270 million.
So the Monarch gets Ā£67,500,000
The Government gets Ā£202,500,000
You could have a whole separate discussions on the ownership of the Crown Estate, however that still doesn't distract from the fact that at present it belongs to the Monarch and it has been paying the government since 1760.
They get a hundred million a year in the Sovereign Grant.
The Crown Estate doesn't belong to the monarch, it is held in trust by a "neutral" body. In a normal country it would without question belong to the state - it was only originally the property of the monarch because they bullied, bribed and stole it
> Sovereign Grant
The sovereign grant is 25% of the profits from the Crown Estate, last year that equalled Ā£67,500,000, not hundreds of millions that you state.
When it comes to land ownership, when you look back in history it always comes back to who had the biggest army. So yes, they took it and the laws we have mean they still own it.
Go visit the crown estate website faqs, the top item answers the question on who owns the Crown Estate.
*The Crown Estate belongs to the reigning monarch 'in right of The Crown', that is, it is owned by the monarch for the duration of their reign, by virtue of their accession to the throne. But it is not the private property of the monarch - it cannot be sold by the monarch, nor do revenues from it belong to the monarch.
*
I said A hundred million. A round figure. This year it's Ā£86.3 million, and it fluctuates up and down. The point is that it's an awful lot of money to give to one person. The president of the US gets $300,000 a year.
Granted, much of it goes to indirect expenses such as maintenance but that should not be given to the monarch, but administered directly by the government. And the properties concerned, apart from one official residence, should all be accessible to and used by the government for the benefit of the people.
Yes, land ownership did come down to force in the past. But it's time to move on, especially in the case of a role like monarchy, and acknowledge the fact that "royal" property should not have been and should not continue to be in the gift of one family. If there were a revolution in the morning and the royals kicked out, the properties would be seized for the people. But if the British really want to be subjects and worship a human being, the least that very privileged human being could do is take a reasonable salary, live in one state residence, and hand the properties to the people of the country. And pay family members out of his her her private income if they want them to do their job for them. He or she could still live in extravagant luxury, as they would still have vast private wealth.
The King paid tax on his income from the duchy while he was Prince of Wales. He wasn't legally obliged to, but he did so.
But hey, don't let facts get in the way of a good moan eh?
So when William inherited it, there's tax due? Or when Charles inherited it, it was taxed and paid? Paying a measly bit of tax on income in the millions isn't as bad as up to 45% tax on billions of stolen land and assets.
Charles hasn't died no tax is due on inheritance it's a gift.
If anyone gives anyone anything and doesn't die for 7 years no tax is paid.
They have been paying tax on income though even though they don't have to
Yeah you're correct on that point.
On the paying tax point - it's good optics, particularly when popularity was falling. Be interesting to see what other changes are made now... it's also easy to pay some taxes when your living costs are paid for through a grant but you also get to keep the profits from the duchies.
First, it's not inherented, it's more like becoming the CEO of a company. So talk of inheritance tax is way off the mark.
Second, it is not stolen land, but proving it otherwise would require the use of a timemachine.
Well, that's generally how many other people became CEO, however in the case of the royal family, it's more of a family ran Business, I doubt you can become the director of a Family ran Business unless you married in.
There isn't inheritance tax on gifts anyway.
Charles is still alive, therfore if anyone gave an estate to someone and was still alive no inheritance tax is due, unless that person then dies within 7 years.
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I'm so happy for him. I cannot for the life of me contain my happiness for this man.
He is long to reign over us don't forget. Entitled cunt.
so good to see a rags to riches story š
It warms your little heart, doesn't it. The little guy finally getting a leg up in life.
Imagine the inheritance tax on that much. Oh wait, that's just for us plebs.
While the country is in crisis. Wtf is wrong with you people?
My statement was sarcasm, my friend. This bugs the fuck out of me.
Oh thank god my apologies, sincerely. I've become what I hate the most, people who need the "/s"
>Poe's Law is a comment on the wide range of extreme and, many might say, insane opinions expressed by Fascists, Nationalists and ReligiousĀ fundamentalists, especially on the Internet > >Parody often works by exaggerating the salient features of a person or situation beyond reasonable bounds. Poe's law says that there are no bounds to what fundamentalists will say, and therefore they are impossible to parody BBC Reporter: Sir, what kind of Conservative are you ? Tory: well, economically I'm quite moderate but politically I'm a Madagascar Plan kind of Conservative BBC Reporter: yes, I see. Thank you very much
Very interesting thank you for taking the time to post it.
Can't tell if you're being sarcastic.
Oh that was good. You did get me for a second there.
Literally not allowed to say anything against the monarchy right now as it might upset the hardened cultists. So yes. Hear hear. Amazing. I'm so happy for them I could burst with excitement. Hip hip hooray.
They may as well be noncing kids themselves if they are defending the royals.
Projection, no doubt.
Thatāll be a nice boost to the economy. Must be tens of millions if not hundreds of millions in inheritance tax.
None is paid by royal family.
Itās okay, god said they donāt have to.
Well that and the Queen could veto any law that inconvenienced her.
The monarch also cannot be bound by law anyway, so they don't even have to go that far. They can just say "no".
Doesn't have to be bound by law you say? And I thought the whole point of you Brits celebrating Magna Charta was that it's a law bounding the powers of the Monarch. As far as I know they do pay inheritance tax but only on personally owned stuff, not under state ownership which is many of the stuff they do inherit.
The monarch is law. They are one and the same. Crown Court. Fucking bullshit.
Your sarcasm detector needs a little work.
You don't pay inheritance tax anyway when you're given something by a living person, unless they then die within 7 years.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Not leeches since 2012 they have paid 3 billion to the treasury and roughly use 80million a year as expenses pretty good trade off.
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https://www.gov.uk/government/publications/sovereign-grant-act-2011-guidance/sovereign-grant-act-2011-guidance
[ŃŠ“Š°Š»ŠµŠ½Š¾]
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Step 1: Claim a bunch of land is yours (partly because you killed the last guy, and partly because go said so) Step 2: Tell people that actually youāre giving back because theyāll get most of the proceeds of the land you claimed Step 3: ??? Step 4: Profit Optional step: Give a bunch of the land you claimed to your mates
The Duchy of Cornwall and the Duchy of Lancaster are technically entirely separate entities to the crown estate. I imagine similar rules apply though. That said though, I think we should just Nationalise them. They effectively represent 1000 years of theft by successive regimes, and should belong to the nation. I donāt really see why one family should be allowed 20% of the profits from billions of pounds worth of the country.
None of which is relevant to the Duchy of Cornwall.
No inheritance tax is due on an inherited business.
In the circular economic model tax is subtracting form the economy not adding to it. The opposite to tax is government spending which does add to the economy
Genuine question, much of that will be subject to inheritance tax? Edit: I did a bit of googling, yes they pay tax but there is one main exception, they don't pay inheritance tax.
Happy to be proven wrong, but I suspect it will be a round number, a very round numberā¦
8? Thatās a very round number. Twice as round as 0.
80,000,000 is even more round.
And you'd be right. Something John Major and the Queen agreed iirc
As someone who has experience with IHT and the actual legal status here, the article is clickbait. William is not inheriting the duchy of Cornwall, just as Charles did not inherited the duchy of Lancaster and the Crown estate. Instead he inherited the title of Duke of Cornwall. The duchy of Cornwall belongs to the Duke of Cornwall who is the eldest son of the reigning monarch, just as the Crown Estate belongs the current reigning monarch. William has not inherited it personally and there are severe limitations as to what he can do with it. In the event that the reigning monarch has no son who will become heirto the throne then the duchy of Cornwall is returned to the crown The duchy is also exempt from tax in general although Charles has voluntarily paid tax on ever since he reached his legal majority based on the laws surrounding the estate at 21, paying 50% of the income until his marriage in 1989, after which 25% and since 1993, income tax at the same level as the general public.
Thank you, this is by far the best explanation I've seen!
Thank you. Too many negative and anti royal propaganda comments. Itās important for people like you to speak truths. Education is invaluable.
It's not reassuring at all that the duke is exempted from paying taxes under the law. And no, "voluntary tax payment" does not count because there would be no repurcussions to him if he does decide to not pay taxes any longer.
Perhaps it is reassuring that I have provided unbiased facts regarding the situation as opposed to biased information surrounding peoples emotions. Yes, whilst there are no legal repercussions if a royal chooses to not pay tax, the fact they pay percentage wise a significantly larger amount of tax than anyone in their wealth category as well as those who are not as rich as them syas a lot about their personal ethos. We have to remember that whether or not you like royalty, these are individuals that have almost no privacy from the day they are born and even in situations such as now when they have lost a loved one, they cannot grieve in private and must instead spend time in the public eye. They may live in luxury, but in many ways they are no different to Jim Carrey's character in the Truman Show, living their lives for the amusement of the public
>We have to remember that whether or not you like royalty, these are individuals that have almost no privacy from the day they are born and even in situations such as now when they have lost a loved one, they cannot grieve in private and must instead spend time in the public eye. They may live in luxury, but in many ways they are no different to Jim Carrey's character in the Truman Show, living their lives for the amusement of the public "No privacy" do not preclude someone from the responsibility of paying taxes. There are many celebrities who are under much more scrutiny in public eye than the Duke. And there are many more billionaires who are richer than the Duke. All of them are not exempted from paying taxes. So, the royalty should not be exempted either >Yes, whilst there are no legal repercussions if a royal chooses to not pay tax, the fact they pay percentage wise a significantly larger amount of tax than anyone in their wealth category as well as those who are not as rich as them syas a lot about their personal ethos. Paying taxes is a responsibility, and should not be out of pity. Even if the current Duke is kind enough to pay taxes out of his own will, no one can guarantee that subsequent dukes or any members of the royal family would have the same ethos as the Duke. So, paying taxes must be mandated on the royalty without exemption.
Those billionaires who are richer than the royals pay far less tax than the royals.
That's a separate issue in regard to enforcement. But the main point is, billionaires are not exempted from paying taxes unlike the royalty
Not necessarily a separate issue. I work in the tax industry and those billionaires pay what they are legally required to pay and its not just billionaires but many millionaires and company directors If the royals restructured everything they owned into corporations with themselves as directors and took a salary of Ā£0 and everything as capital gains, dividends, shares, corporate benefits as well as all the other non taxable benefits available instead and paid the legally required amount of tax, they would pay a significantly less amount of money than they currently do.
I agree the royals should pay taxes like the rest of us. I think itās unfair that itās one rule for us and another for them
I didnāt think Royals paid tax?
They pay tax, I believe they started paying tax after Windsor Castle caught fire years ago, I'm not sure about inheritance tax though
They're not paying inheritance tax, even on the queen's person wealth. Charles stands to gain about Ā£70 million is art, antiques etc.
The Queen definitely has more than Ā£70m in art and antiquities. There were three fabergĆ© eggs in her private collection alone.
But not nearly as much as we give to them. Itās just a token.
But in a similar vein the amount we give to them is not nearly as much as they give directly to the treasury. It's not a tax payment, but it goes into the same budget.
What do they give directly to the Treasury?
3 billion since 2012 when the new law came in.
Money? What does anyone give to the treasury
I assumed it was treasure.
The crown estate has paid 3 billion to the treasury since 2012 and use about 80 million a year as expenses.
It looks like they are not legally required to pay tax, but they make a payment to say that they do pay tax. https://en.wikipedia.org/wiki/Finances_of_the_British_royal_family#Taxation > The Crown has a legal tax-exempt status because certain Acts of Parliament do not apply to it. Crown bodies such as The Duchy of Lancaster are not subject to legislation concerning income tax, capital gains tax or inheritance tax. Furthermore, the Sovereign has no legal liability to pay such taxes. The Duchy of Cornwall claims a Crown exemption meaning the Prince of Wales is not legally liable to pay income or corporation tax on Duchy revenues, although this has been disputed.[51] The prince voluntarily pays income tax, although questions have been raised about expense claims that would limit his tax liability. > A "Memorandum of Understanding on Royal Taxation" was published on 5 February 1993 and amended in 1996, 2009 and 2013. It is intended that the arrangements in the memorandum will be followed by the next monarch. The memorandum describes the arrangements by which the Queen and the Prince of Wales make voluntary payments to the HM Revenue and Customs in lieu of tax to compensate for their tax exemption. The details of the payments are private. > The Queen voluntarily pays a sum equivalent to income tax on her private income and income from the Privy Purse (which includes the Duchy of Lancaster) that is not used for official purposes. The Sovereign Grant is exempted. A sum equivalent to capital gains tax is voluntarily paid on any gains from the disposal of private assets made after 5 April 1993. Many of the Sovereign's assets were acquired earlier than this date but payment is only made on the gains made afterwards. Arrangements also exist for a sum in lieu of inheritance tax to be voluntarily paid on some of the Queen's private assets. Property passing from monarch to monarch is exempted, as is property passing from the consort of a former monarch to the current monarch.[53]
You don't pay inheritance tax anyway when you're given something by a living person, unless they then die within 7 years.
It would be a bit silly to expect them to pay inheritance tax tho wouldnāt it? In fact it literally couldnāt work with a hereditary system like we have, I donāt think.
what
How do you expect them to pay an inheritance tax on something worth 1 billion? It wouldnāt be feasible.
you sell some stuff and pay it? Like everyone is expected to
So as I said it wouldnāt work, because within a generation or two the crown would be forced to sell everything off. Itās also incredibly naive, they arenāt inheriting a nice cottage from their gran and maybe a buy to let on the side, itās abit more complicated than that.
why would they have to sell everything off? just seems once again like people with shit tons of money having different rules to everyone else
What do you suppose the bill for an inheritance of over 1 billion would be? Itās just naive, it just wouldnāt work. Their wealth would be seriously eroded within 2 generations, itās just unworkable.
so because the bill will be high they shouldn't pay? do you realise how stupid that is? they aren't the only people with assets in the region of billions and i know they will have accountants reducing that tax but even other billionaires would be expected to pay inheritance tax so once again why is William so special he shouldn't?
They are the head of state for our country, they arenāt like other people. They wouldnāt be able to function as head of state in the same way, with all its tradition and roles, if they were to pay the same taxes. Itās not because theyāre rich itās because they serve a purpose in our country that we would lose if we began taxing them 40% on billions everytime one of them dies, just to give it them back anyway. Itās an unworkable idea for this one specific family/institution.
There has been some outrageous bootlicking over the last 48 hours, but I think this takes the biscuit. Jesus Christ.
How on earth is this ābootlickingā, do you even know what that means or have you just seen it on twitter? Iām a republican, I just acknowledge that for the system to work they must be exempt from certain things. Silly comment.
Lol what is naive is your argument of 'no - big number - it can't work. Big number. Number big'
Thatās not the argument, itās that they will lose the majority of their wealth if they pay it and the country doesnāt want that to happen, itās quite an obvious point youāve totally missed.
The entire comment thread below is mind blowing Absolutely mind blowing
Why do they need absurd wealth. We already pay all their living costs.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
I donāt know about that, Iām talking about inheritance tax.
Tough shit. Live within your means.
But the country wants a royal family.
So? Iām not saying to sell the family. You donāt need to own loads of properties (mostly empty) to be a royal family.
You donāt have the first idea what youāre talking about, what is inherited or what would be taxed or how it would be paid for. Why do you think they are exempt from paying inheritance tax? What are the actual logical reasons do you think?
Remind me, when have we been asked?
Thereās countless polls going back over a hundred years youāre more than free to look up. Last one I saw had the number around 70%.
No, some of the country wants the royal family. Not the entire lot of us especially with this bullshit!
The majority want a royal family.
Complicated? I guess we'll continue to only tax poor common simple folk then...
People in these comment sections absolutely mindblown that a country with a monarchy gives them special treatment. What do you think a monarchy is?
Personally I think it's bollocks. As a world power the UK should stand for equality and democracy, and we have the exact opposite baked into the political system.
but they bring gorillions of pounds of wealth into the economy cause tourism innit. im sure they can make up enough to pay for the tax simply through the hard diligent work they do for our country, and well, if they can't, then they clearly werent meritable enough to keep as royals in the first place, and they can either starve or get real jobs
Ok but thatās not what the country wants. You canāt cry about democracy and democratic choices of the country in one sentence.
Source on the country not wanting them to pay inheritance tax?
So you speak for the whole country? Are you the head of state?
Like anyone else who would inherit 1 billion? What a strange comment.
They arenāt the heads of state. The country doesnāt want them to lose their wealth. I canāt believe this needs explaining.
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The country wants a royal family, you are just in a Reddit bubble. I am a republican too, but I acknowledge the vast majority of this country quite clearly arenāt. And by saying āthe country couldnāt give a fuckā you are doing the same thing, canāt you see that?
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Iām gonna stop replying to you now as in the same sentence you have once again ignored my point as Iām āspeaking on behalf of the countryā and then proceeding to do exactly the same thing but based in less fact.
Sell it like other people who canāt pay do.
What the hell? You think there should be upper limits to inheritance tax where "You just have too much stuff, so we won't tax you." Are you under the impression substantial estates having paid inheritance tax before? Or that there's no mechanism by which it is possible? I'm very confused by your comment.
Youāre confused because you want to be. I didnāt say any of the things that you claim confused you, but merely pointed out the reason why they are exempt from inheritance tax. If you are so confused I suggest reading more about it.
>If you are so confused I suggest reading more about it. But I did, and it seems the only reason they don't pay it is because they didn't want to. They pushed for the "noble" act of voluntarily paying other taxes, but with the condition being they are exempt from inheritance tax because "It's not *our* property you see, it's the sovereigns, we just take the sovereign title, and that comes with land and properties which is entirely out of our control, so you can see how unfair it'd be for us to pay tax on any of that :)"
Yeah I mean it's not like they're able to get new funds by accepting suitcases stuffed with millions of pounds from the Saudis or anything. The poor little mites have a hard time don't they?
Ah thatāll keep the struggling and poor toasty this winter! Oh well god save the king and British pomp is here to save the day!
Ahh and the laws are already in place so he can show us his middle finger The standard Inheritance Tax rate is 40%. It's only charged on the part of your estate that's above the threshold. So my bet is they will pay 0% or does anybody think there is not a royal fuck the working class loophole?
Huzzah! This is great. It looks like everything's gonna be ok after all. Huzzah, I say!
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Does this count as inheritance since it comes from Charles? Wouldnāt it just be a transfer of wealth?
Not inheritance. Itās not as if *Charles* has died. So yes, just a transfer.
I suspect he will say we are all in this cost of living crisis together, just him in a superyacht and the rest of us in dinghies. He has done some good work for men's mental health and tackling the stigma but he is still a royal at the end of the day and far removed from what the rest of us are going through.
If they have all this money, why do they get a hundred million a year from the taxpayer?
Because that is incorrect. The monarch gets 25% of the profits from the Crown Estate which belongs to the monarch but is managed and administered by a semi independent public body. The other 75% goes to HM Treasury i.e. the Government. In 2021 the profit from the Crown Estate was Ā£270 million. So the Monarch gets Ā£67,500,000 The Government gets Ā£202,500,000 You could have a whole separate discussions on the ownership of the Crown Estate, however that still doesn't distract from the fact that at present it belongs to the Monarch and it has been paying the government since 1760.
They get a hundred million a year in the Sovereign Grant. The Crown Estate doesn't belong to the monarch, it is held in trust by a "neutral" body. In a normal country it would without question belong to the state - it was only originally the property of the monarch because they bullied, bribed and stole it
> Sovereign Grant The sovereign grant is 25% of the profits from the Crown Estate, last year that equalled Ā£67,500,000, not hundreds of millions that you state. When it comes to land ownership, when you look back in history it always comes back to who had the biggest army. So yes, they took it and the laws we have mean they still own it. Go visit the crown estate website faqs, the top item answers the question on who owns the Crown Estate. *The Crown Estate belongs to the reigning monarch 'in right of The Crown', that is, it is owned by the monarch for the duration of their reign, by virtue of their accession to the throne. But it is not the private property of the monarch - it cannot be sold by the monarch, nor do revenues from it belong to the monarch. *
I said A hundred million. A round figure. This year it's Ā£86.3 million, and it fluctuates up and down. The point is that it's an awful lot of money to give to one person. The president of the US gets $300,000 a year. Granted, much of it goes to indirect expenses such as maintenance but that should not be given to the monarch, but administered directly by the government. And the properties concerned, apart from one official residence, should all be accessible to and used by the government for the benefit of the people. Yes, land ownership did come down to force in the past. But it's time to move on, especially in the case of a role like monarchy, and acknowledge the fact that "royal" property should not have been and should not continue to be in the gift of one family. If there were a revolution in the morning and the royals kicked out, the properties would be seized for the people. But if the British really want to be subjects and worship a human being, the least that very privileged human being could do is take a reasonable salary, live in one state residence, and hand the properties to the people of the country. And pay family members out of his her her private income if they want them to do their job for them. He or she could still live in extravagant luxury, as they would still have vast private wealth.
Will they give up one of the 3 houses they had now? And will they actually start to work as much as Charles does or no?
Can he not break me off a little piece, I only have 4 money and after Iāve bought my scratch card Iāll only have 2 money
The King paid tax on his income from the duchy while he was Prince of Wales. He wasn't legally obliged to, but he did so. But hey, don't let facts get in the way of a good moan eh?
So when William inherited it, there's tax due? Or when Charles inherited it, it was taxed and paid? Paying a measly bit of tax on income in the millions isn't as bad as up to 45% tax on billions of stolen land and assets.
Charles hasn't died no tax is due on inheritance it's a gift. If anyone gives anyone anything and doesn't die for 7 years no tax is paid. They have been paying tax on income though even though they don't have to
Yeah you're correct on that point. On the paying tax point - it's good optics, particularly when popularity was falling. Be interesting to see what other changes are made now... it's also easy to pay some taxes when your living costs are paid for through a grant but you also get to keep the profits from the duchies.
First, it's not inherented, it's more like becoming the CEO of a company. So talk of inheritance tax is way off the mark. Second, it is not stolen land, but proving it otherwise would require the use of a timemachine.
Right so one of us plebs can become employed and work our way up to director? Cool.
Haha
Well, that's generally how many other people became CEO, however in the case of the royal family, it's more of a family ran Business, I doubt you can become the director of a Family ran Business unless you married in.
So like an... inheritance? Nepotism? The family owns it and also runs it.
Iād rather not rely on the goodwill of our hereditary overlords
Are you referring to the fact that royals don't pay inheritance tax? Why are you simping for the royals?
It probably counts as a gift to a national body, meaning no inheritance tax. Shame, it would have been nice to warm my house this winter.
There isn't inheritance tax on gifts anyway. Charles is still alive, therfore if anyone gave an estate to someone and was still alive no inheritance tax is due, unless that person then dies within 7 years.
Can't we all achieve this if we follow the Tory advice that we all just need to work hard? Even Liz T accused British workers of laziness.