Property News · August 11, 2016

Grosvenor Estate structure protects fortune from HMRC


Duke of Westminster’s wealth held in trusts and food-producing farms that are tax-exempt and ensure it remains in the familyThe Duke of Westminster’s fortune might have been worth a fraction of the £9.35bn his four children stand to inherit, were it not for an old war wound and a 12-year legal battle.In 1944, the 4th Duke was injured in the leg by an exploding shell while commanding his regiment. The law states that those who die in the service of their country are exempt from death duties. The duke went on to live another 23 years, eventually dying of cancer at the age of 60. Continue reading…

Source : theguardian.com
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