Question to the HM Treasury:

To ask His Majesty's Government what plans they have, if any, to introduce legislation to levy inheritance tax on the estate of the Monarch.

Inheritance tax is paid in the normal way on the gifts and bequests from any member of the royal family, with the exception of the Monarch because the relevant enactments do not apply to the Crown.

The King has instead agreed that inheritance tax will be paid voluntarily on any gifts and bequests he makes, with an exception for assets passing to the next Monarch. The Memorandum of Understanding (MoU) on Royal Taxation, first agreed in 1993 and most recently renewed in 2023, sets out the rationale for not charging inheritance tax in relation to assets that pass to the next Monarch.