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    No, King Charles III won't pay any inheritance tax on his massive gain

    Under a government agreement, King Charles III won't have to pay the U.K.'s standard 40% inheritance tax on the massive wealth he inherits from his mother, Queen Elizabeth II.
    by Bill Chappell Sep 15, 2022 2 minutes
    In 1993, Queen Elizabeth II and her heir, then-Prince Charles, reached a deal with the government in which they agreed to voluntarily pay taxes — but to be exempt from an inheritance tax. Mother and son are seen here in 2019 in London.

    King Charles III has ascended to the U.K. throne, but he won't have to pay the U.K.'s inheritance tax on the massive wealth he inherits from his late mother, Queen Elizabeth II. That's because of a deal the royals made with the government nearly 30 years ago.

    Regular citizens must pay the standard inheritance tax rate of 40% on any, such as money left to a spouse or a charity.

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