PRINCE Harry is set to inherit an £8million gift on his 40th birthday from the Queen Mother.

The late Queen Elizabeth began collecting a sizable trust fund for the Duke of Sussex, who will celebrate his special milestone on September 15, when he was just 10-years-old.

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Prince Harry is set to inherit an £8million gift on his 40th birthday from the Queen MotherCredit: Getty

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The Queen Mother started the trust fund in 1994Credit: Getty
As reported by The Times, the Queen Mother, 94 at the time, put aside a generous tax-free £19million in 1994 to leave to her great-grandchildren.

The inheritances were divided into two installments, one payment when the royals turned 21, and another on their 40th.

A former Palace aide told The Times: “There was a trust fund set up at the time.

“It was a way in which the Queen Mother could set aside money for when her great-grandchildren were older and a way of passing a slice of her estate down in a tax-efficient way.

“It was a way in which some of her estate could be ring-fenced for them.”

However, Palace insiders believe Harry could have been left more money than his estranged brother William.

Sources suggested the differing sums may have been based on the Queen Mother’s assumption Wills would be entitled to a larger fortune from the Duchy of Cornwall as future heir.

William became Duke of Cornwall when he was anointed Prince of Wales after King Charles ascended the throne.

He is thought to have gained £23.6million through inheriting the estate.

Meanwhile, other royals thought to be part of the Queen Mother’s trust fund include Princess Anne’s children Zara and Peter Phillips, as well as Princess Beatrice and Eugenie.

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Princess Margaret’s children, Viscount Linley and Lady Sarah Chatto are also believed to be beneficiaries.

The Queen Mother passed away in 2002 and the details of her will were shrouded in secrecy.

A statement released by Buckingham Palace read: “Queen Elizabeth The Queen Mother has bequeathed her entire estate (which mainly comprises the contents of her houses) to The Queen.

“In her will, she asked The Queen to make certain bequests to members of her staff, and these bequests will be subject to inheritance tax in the normal way.

“The Queen has decided that the most important of Queen Elizabeth’s pictures and works of art should be transferred to the Royal Collection.”

It comes after reports suggested Prince Harry was “angry” and longing to return home to lap up the admiration Prince William and Princess Kate receive.

But, pals of the 39-year-old have been at pains to point out that there is no “blueprint” for plans to return home.

The prince quit Britain in 2020 and jetted to California with wife Meg where they now live with their two children, Archie, five, and Lilibet, three.

The couple have recently launched their new project The Parents Network to help support families who have lost their children to online harm and abuse.

Meghan is still continuing with the roll out of her new lifestyle brand American Riviera Orchard – although she has faced a major blow to operations.