Zara Tindall, 43, and her brother Peter Phillips, 46, both live on their mother's estate Gatcombe Park in Gloucestershire, and it is believed that one day they will inherit the property and farmland. However, they could be facing a mammoth tax bill when that day comes and that's all thanks to the UK's Labour government, as reported by the Mail Online.
From 2026, the government will introduce a tax of 20% on inherited farming assets above £1 million.
Chancellor of the Exchequer Rachel Reeves has clarified that due to other tax relief measures in place the figure could in fact be around £3 million before tax. However, as Princess Anne's Gatcombe estate and farm is worth an estimated £ 6 million, this will dramatically impact the inheritance tax paid when it changes hands.
© Tim GrahamMany farmers have been protesting over this new change, worrying that it will be the death of family farms that get passed down the generations.
What has Princess Anne said about her glorious home?
Speaking to Countryfile, the Princess Royal spoke candidly about the farming at her home: "It's really nice to come back and just be yourself in an area like this. Being able to take on a place like this – for me, I’ve got to make it work. This is not something that comes free, this has got to pay its way, otherwise I can’t stay here."
© Photo: Getty ImagesAs well as the revenue obtained by the farm itself, the estate also plays host to a few events throughout the year, including the annual Festival of British Eventing.
The Princess Royal has lived at this property since 1976 when her mother, the Queen, purchased it for her daughter and her former husband, Captain Mark Phillips. She now lives there with her current husband Sir Timothy Laurence.
What is Zara Tindall's home with husband Mike like?
© GettyThe couple have a seven-bed farmhouse called Aston Farm which is located next to Anne's home, on the same estate. They live there with their three children Mia, Lena and Lucas. And while they do not share too many looks inside, fans have been given glimpses inside their private gym and stunning garden.
© Max Mumby/Indigo/Getty ImagesThe property also has its own 'party barn' making it great for hosting events. In a 2022 interview with Vogue, the space was revealed for the first time: "At the centre of the farm is a converted barn known to all as 'the party barn' with a bar and catering facilities, giant screen and lounges that combine to make it the perfect setting for a gathering of old friends." It has vaulted ceilings with gorgeous wooden beams, its own kitchen and plenty of space for a dancefloor.
