Queen Elizabeth The Queen Mother bulk of her estate, estimated to be worth between £50 and £70 million, including paintings, Fabergé eggs, jewellery, and horses, to her surviving daughter, Queen Elizabeth II. Under an agreement reached in 1993, property passing from monarch to monarch is exempt from inheritance tax, as is property passing from the consort of a former monarch to the current monarch, so a tax liability estimated at £28 million (40 percent of the value of the estate) was not incurred. The most important pieces of art were transferred to the Royal Collection by Elizabeth II. Following her death, the Queen successfully applied
Hall income tax Tax Structure Study Commission characterized the tax as "particularly harmful to retirees with limited income derived mainly from investments," noting in its final report that low-income retirees with dividend and interest income pay the tax, but low-income people with income from other sources do not. The report also said the Hall tax "encourages retirees to leave the State." The commission recommended repealing the Hall income tax, reducing or repealing certain other state taxes, and enacting a general personal income tax in their place. Other critics have suggested that the tax discourages people from saving and hinders efforts to encourage retirees