On May 6, some of the world's most valuable gems will take centre stage at the coronation of King Charles III in Westminster Abbey.
One of those is the 530.2-carat Cullinan I diamond set in the Sovereign’s Sceptre. At the moment of his coronation, the king will wear the St Edward’s Crown, originally made for Charles II’s coronation in 1661 and set with rubies, amethysts, sapphires, garnet, topazes and tourmalines. Queen Camilla will be ordained with Queen Mary’s Crown, which has recently been altered to include three of Queen Elizabeth II’s favourite diamond brooches, cut from the same original diamond rough as the Cullinan I.
These are part of the royal regalia, potent symbols of the monarch’s power. However, they are not the only gemstones that will be sparkling in the abbey that day. Although recent news reports suggest the dress code for the coronation may be formal day wear, it is expected that aristocratic guests and royals from overseas will wear their own family tiaras, a tradition last witnessed at Queen Elizabeth II’s coronation in 1953.
Heirloom tiaras are currently being polished up for the occasion, while London’s jewellers have been busy creating glorious new pieces. De Beers, David Morris and Yoko London have all crafted one-of-a-kind creations to mark the coronation. The De Beers design is particularly contemporary and daring, featuring three arcs in blue titanium and platinum, each speckled with diamonds, while pear and baguette-shaped diamond drops are suspended on a fourth arc.
You don’t need to be a member of the nobility to don a tiara, but high-profile royal events always result in a flurry of enquiries at Bond Street jeweller David Morris, where a new wishbone-shaped design set with rose-cut pear-shaped diamonds is attracting attention. “Whenever a major royal event is approaching, we see a rise in requests for tiaras, particularly from the Middle East,” says senior designer Julian Medwell. “At David Morris, we cater to royal families throughout the world, including the Middle East."
Queen Elizabeth II loved pearls and pearl specialist Yoko London anticipates many will be worn in her honour by guests. “Therefore, we felt it fitting to mark the occasion with our own pearl tiara,” says the brand's founder and chief executive, Michael Hakimian.
His special coronation tiara features 24.97 carats of diamonds and South Sea pearls, and is inspired by the historic Lover’s Knot, a royal tiara frequently worn by Princess Diana and nowadays, by Catherine, Princess of Wales.
The coronation is predicted to be a boost for the economy, increasing tourism and uplifting consumer confidence, with customers drawing inspiration from all the jewels on show during the ceremony. “We feel the coronation will shine a spotlight on Britain and therefore expect it will serve to aid in brand recognition for British companies,” says Hakimian. “Made in England is getting stronger.”
This historic moment also gives jewellers the excuse to design something a little bit different. For instance, fine jewellery designer Annoushka has taken inspiration from the St Edward’s Crown to create a miniaturised reproduction. The limited-edition charm will bear the special King Charles III coronation hallmark.
Beyond crowns and tiaras, rings have also been designed. Showcasing their craftsmanship, Mayfair jeweller Boodles has created the Gemini ring, featuring two heart-shaped Cullinan diamonds sourced from the same mine as the diamonds in the Crown Jewels and set in a pink diamond bow.
David Morris, which made the bespoke dragon statue that adorns the bonnet of the Aston Martin that Queen Elizabeth gave to King Charles on his 21st birthday in 1969, has designed a second unique piece — a ring based on the colours of the Union Jack flag, with a central 17.5-carat rare purplish-blue spinel, a red-pink spinel and white diamonds.
Also about to emerge from the workshop is Hirsh London’s tribute, a yellow and cognac diamond butterfly brooch with a “technically challenging” en tremblant movement that is linked to the king’s personal interests. “For over 50 years, King Charles III has been a passionate and influential figure on the topic of environmentalism and sustainability,” says managing director, Sophia Hirsh. "Symbolising hope and new beginnings, we’ve created this Butterfly jewel in tribute to a king that has always been close to nature.”
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Short-term let permits explained
Homeowners and tenants are allowed to list their properties for rental by registering through the Dubai Tourism website to obtain a permit.
Tenants also require a letter of no objection from their landlord before being allowed to list the property.
There is a cost of Dh1,590 before starting the process, with an additional licence fee of Dh300 per bedroom being rented in your home for the duration of the rental, which ranges from three months to a year.
Anyone hoping to list a property for rental must also provide a copy of their title deeds and Ejari, as well as their Emirates ID.
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
The five pillars of Islam
Padmaavat
Director: Sanjay Leela Bhansali
Starring: Ranveer Singh, Deepika Padukone, Shahid Kapoor, Jim Sarbh
3.5/5
Key figures in the life of the fort
Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.
Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.
Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.
Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.
Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.
Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.
Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.
Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.
Sources: Jayanti Maitra, www.adach.ae
