The monarch does pay income tax, but not inheritance tax. The King will get 2% of the rental from his properties, the rest go into the exchequer as public money.
Its managed by the Crown Estate and dates back to 1760 when George III needed a loan to manage his foreign wars. (guess what wars they were?)
An act of parliament took all the revenue from his lands in exchange for this loan and pays the Crown 2% of these holding as welfare.
The monarch does pay income tax, but not inheritance tax. The King will get 2% of the rental from his properties, the rest go into the exchequer as public money.
Its managed by the Crown Estate and dates back to 1760 when George III needed a loan to manage his foreign wars. (guess what wars they were?)
An act of parliament took all the revenue from his lands in exchange for this loan and pays the Crown 2% of these holding as welfare.