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 II Silver Jubilee Medal of a diameter silver disc with, on the obverse, the words "ELIZABETH II DEI GRA. REGINA FID. DEF." (Latin abbreviation for "Elizabeth II, by the Grace of God, Queen, Defender of the Faith") surrounding an effigy of Queen Elizabeth II, symbolising her role as fount of honour. On the reverse is a crown atop a wreath that contains the words "THE 25th YEAR OF THE REIGN OF QUEEN ELIZABETH II 6 February 1977" in six lines. The Canadian version was identical, except that the medal was slightly thicker, the crown on the Queen's effigy was more upright, and the reverse