Prince Harry’s huge boost as he lands £7m birthday inheritance within days
The Duke of Sussex will turn 40 on Sunday and will receive the final chunk of his share of the late Queen Mother's £19million trust fund in the days following his birthday
Prince Harry is about to hit the jackpot without paying a penny in taxes. Reports reveal that the Duke of Sussex, on his rapidly approaching 40th birthday this Sunday (September 15) is due to pocket a cool £7million the remaining slice of the Queen Mother’s hefty £19m trust fund.
In a surprising twist for UK taxpayers, financial gurus at Stocklytics have laid bare the royal loopholes that protect Harry’s inheritance from the taxman’s grasp.
Experts have speculated: “With Prince Harry set to receive the final instalment of the Queen Mother’s trust fund, valued at £19m, many Brits may be asking how much inheritance tax he’ll pay – especially as the latest judicial reviews have cost the taxpayer £500,000 each.
“However, due to the way the Queen Mother’s estate was planned and how long she lived, it is likely HMRC will not receive a penny in inheritance tax.
“According to current regulations, inheritance tax only applies to a trust if it was set up within 7 years of the individual’s death. However, since the Queen Mother died in 2002, this trust would no longer be subject to inheritance tax,” reports the Express.
“If the Queen Mother had died within the seven years a trust is subject to inheritance tax, HMRC could have been owed up to £7.47m.”
The royal financial arrangements mean Harry could end up banking more than big brother Prince William from the family fortune.
