You still do, but King Charles won't have to pay 'inappropriate' inheritance tax on Queen's estate

The nation is in mourning after Her Majesty the Queen sadly passed away, and King Charles III has inherited her role as head of state - and a lot more than that has been left to him, too. It has been reported that the Queen had a net worth of more than £365m, which if it was left to you or me, would result in an inheritance tax bill of a whopping £146m.

The Royal Family owns 1.4 per cent of land in England and King Charles has inherited most of the Queen's multi-million-pound estate, but the new King won't have to pay any such tax, as it was deemed 'inappropriate' by the Government. That's because The Queen's assets were held by her as a Sovereign, rather than a private individual, so they're not affected by the same rules.

As The Express reports, the Government explained: "Some assets are held by the Queen as Sovereign rather than as a private individual.

"They are not sold to provide income or capital for the personal use of the Queen and pass from one Sovereign to the next.