The king charles iii after the death of his mother Isabel II will inherit the salary of the monarch, some 98 million euros per year and the dukedom of lancaster that generates great benefits for which you will not have to pay inheritance tax. If it is foreseeable that he will pay personal income tax as Queen Elizabeth II had been doing since the 1990s.
As the new King of England, Charles III, he will have an annual income of 89 million, that is, just over 8 million euros per month.
He also assumes the title of Duke of Lancaster, a ducat valued at 750 million euros, and which falls on the monarch since the 13th century to provide him with a source of income. Carlos III is exempt from paying the inheritance tax for this title by a law approved in the 1990s by the British Prime Minister, John Mahhor.
However, the new king will have to renounce other titles that he had as prince and that will now pass to his son Guillermo, already heir to the British crown. It is the case of dukedom Of Cornwall, whose annual income is around 28 million euros.
Charles III yes you will have to pay a personal tax for the income he receives thanks to the Duchy of Lancaster. Is rate was established by his mother, Elizabeth IIin 1992, just after the British Government eliminated the inheritance tax for monarchs.
The expenses of Carlos III
Since his mother died on September 8, British analysts anticipated that the reign of Charles III it will be austere However, with the 98 million euros of annual land, it must pay all the expenses associated with the royal house including official travel and the upkeep of facilities such as castles and palaces owned by them.
From this endowment, the Royal House staff and official trips are paid. All these expenses amount to 53 million euros.
The British Royal House is not financed from the state budgetas is the case in Spain, but through the so-called ‘sovereign grant‘ which assigns him 25% of the income produced each year by the Crown Estate, his portfolio of properties.