A London man who is being forced to take out a new mortgage at the age of 55 in order to pay the inheritance tax bill on his parents’ modest 3-bed semi is today thankful King Charles won’t have any such worries after inheriting Balmoral and Sandringham.
Despite his mother being one of the richest women in the world, King Charles will not have to pay inheritance tax on any of the assets that were owned personally by the Queen, in a move Simon Williams has described as ‘about right’.
Williams went on, “The Queen worked hard to maintain those incredibly valuable assets that she herself inherited from her father, so it’s only right that Charles gets to have them handed to him entirely free from inheritance tax.
“I mean yes, my own parents also worked incredibly hard, sometimes in more than one job, to buy a modest home that is now worth quite a lot thanks to the luck of this part of London being ‘trendy’ compared to how it was in the 70s when they bought it.
“I would love to keep the house and one day give it to my own children – they’ll be trying to get on the housing ladder themselves in a couple of years – but I’ve got to find about a hundred grand for the inheritance tax bill, which as a mid-level civil servant I don’t actually have lying around.
“So I either sell it to pay the tax bill, and deprive them of the chance of owning their grandparent’s house, the house I grew up in – or I keep it and have to get myself a mortgage that won’t be paid off until I’m in my 70s.
“I genuinely wouldn’t want Charles to lying awake at night like I do, wondering whether he should try and rent out Sandringham so that one day he will be able to leave it to William and Harry.
“In the overall scheme of things, I’m extremely lucky to be left even a modest house like this one, I know that, but it must be an absolute nightmare to inherit two massive ones.
“So I take comfort knowing that in this moment of grief, the King won’t have to worry about inheritance tax.”