King Charles and the late Queen Elizabeth II have received payments equivalent to more than £1bn from their land and property estates.
The income from the Duchies of Cornwall and Lancaster have fuelled a centuries-old debate over whether their profits should be given to the public instead.
The duchies own swathes of farmland, hotels, medieval castles, offices, shops and some of London’s prime luxury real estate. They also have substantial investment portfolios, but pay no corporation tax or capital gains tax.
Last year, duchy income totalled £41.8m. Adjusting for inflation, the monarchs have received the equivalent of more than £1.2bn in total revenues from the two estates.
The Duchy of Lancaster, which consists of 18,481 hectares of rural land, primarily in the north of England and the Midlands, automatically pass to whoever is sitting on the throne. The estate itself is valued at £652m.
The Duchy of Cornwall, which encompasses 52,450 hectares, mostly in the south-west of England, is worth more than £1bn.
