Under normal Revenue IHT rules, all inherited income, above £250,000, is taxed at a rate of 40%, but the royal family is exempt from paying the tax.
According to reports in the media, this latest exemption is likely to add to fuel to the Republican lobby, which was dampened somewhat by the public show of support following the death of the Queen mum.
Since 1993, the Queen has paid income tax.
Richard Le Tocq, head of Locate Guernsey, discusses the chancellor’s approach to high net worth individuals, and why relocation is increasingly attractive to HNWIs
The firm says that the U-turn 'does not alter the need for a fundamental review of the way we tax work' and that the current tax system is in need of reform
Legislation on the NICs changes to be brought forward in the autumn following publication of 'the full effects of the changes to Class 2 and Class 4' in the summer
Following chancellor Philip Hammond’s Spring Budget speech, we explore the key takeaways for businesses and individuals