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Irish Mirror
Irish Mirror
World
Justin Kelly

King Charles and Prince William can avoid paying tax on income after inheriting huge wealth from Queen

Prince William King Charles III Queen Elizabeth II United Kingdom Income Tax RTE

King Charles III will not have to pay tax on the vast wealth of assets he has inherited upon his ascension to the throne following the death of his mother, Queen Elizabeth II.

King Charles inherited the majority of his late mother's vast fortune - estimated to be worth at least £436million - but will avoid paying tax on it thanks to a 30-year-old clause agreed by then Prime Minister John Major in 1993.

The exact amount the Queen's eldest son will inherit is unknown, as due to an update of British law during the 1970s this will not be disclosed to the public.

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