Finances of the British royal family are not subject to legislation concerning income tax, capital gains tax or inheritance tax. Furthermore, the Sovereign has no legal liability to pay such taxes. The Duchy of Cornwall has a Crown exemption and the Prince of Wales is not legally liable to pay income tax on Duchy revenues. A "Memorandum of Understanding on Royal Taxation" was published on 5 February 1993 and amended in 1996, 2009 and 2013. It is intended that the arrangements in the memorandum will be followed by the next monarch. The memorandum describes the arrangements by which The Queen and The Prince of Wales make
Sapphire Jubilee of Elizabeth II Sapphire Jubilee of Elizabeth II On 6 February 2017, the Sapphire Jubilee of Queen Elizabeth II, marking sixty-five years of her reign, occurred. The longest-reigning monarch in British history, Queen Elizabeth II is the first British monarch to have a sapphire jubilee. Contrary to her Silver, Golden and Diamond Jubilees, there were no widespread public celebrations of the Sapphire Jubilee. Instead, like the February 1992 Ruby Jubilee, the Queen did not undertake any official engagements. Instead, she spent the day in "quiet reflection" on the anniversary of the death of her father, George VI, and undertaking official work at Sandringham