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
Queen Elizabeth Scholarship Trust Queen Elizabeth Scholarship Trust The Queen Elizabeth Scholarship Trust (affectionately known as QEST) is an art and craft educational trust created to sustain traditional British craftsmanship. It is a British institution committed to helping support craftspeople of all ages and from all backgrounds, at a critical stage in their careers. The trust was established in 1990 to celebrate the 150th anniversary of the Royal Warrant Holders Association and the 90th birthday of Queen Elizabeth The Queen Mother. In 2016, QEST welcomed Her Majesty The Queen Elizabeth II as Patron in her 90th birthday year. QEST offers two forms of grant