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
Queen Elizabeth II Cup Queen Elizabeth II Cup The Queen Elizabeth II Cup is a Group One Thoroughbred horse race at Sha Tin Racecourse in the New Territories, Hong Kong. Established in 1975 by the Royal Hong Kong Jockey Club, it is run annually in April at a distance of 2,000 metres (ten furlongs) on turf. Prior to 1997 it was run at 2,200 metres (eleven furlongs). Sponsored by Swiss watchmaker Audemars Piguet since 1999, it currently offers a purse of HK$20 million (US$2.6 million)since 2014/15. The Queen Elizabeth II Cup was first run at the Happy Valley Racecourse in Happy Valley, Hong Kong