Prince Charles may have a price to pay for getting engaged to his longtime companion Camilla Parker Bowles – a whopping £20,000 tax bill.
When he popped the question, the heir to the throne gave his fiancée a £500,000 platinum and diamond ring which once belonged to the Queen Mother. And now it seems he faces paying a Capital Gains Tax on the sparkler, reports the Daily Express, thanks to Inland Revenue rules governing the transfer of family heirlooms.
The ring, given to the Queen Mother by King George VI in the 1920s, has increased in value since the royal matriarch's death in 2002. Thus Prince Charles, the bauble's new owner, apparently became liable to pay the tax upon giving it to his future wife.
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