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
New Year Honours New Year Honours The New Year Honours is a part of the British honours system, with New Year's Day, 1 January, being marked by naming new members of orders of chivalry and recipients of other official honours. A number of other Commonwealth realms also mark this day in this way. The awards are presented by or in the name of the reigning monarch, currently Queen Elizabeth II or her vice-regal representative. British honours are published in supplements to the "London Gazette". Honours have been awarded at New Year since at least 1890, in which year a list of Queen Victoria's