The Royal Family has three main funding streams in addition to private income.
The Sovereign Grant is funded by the taxpayer while the Duchies of Lancaster and Cornwall provide income for the King and the Prince of Wales respectively.
Annual financial statements from the Royal Family include details on the Sovereign Grant – which funds official duties, the maintenance of the Occupied Royal Palaces and more recently has funded the Buckingham Palace Reservicing Programme.
Separate reports are published for the two duchies which are described on their respective websites as private estates.
Baroness Hodge said: “There is this muddy territory […] in my view, they are public because they were given by the State to the Royal Family for the purpose of sustaining themselves.”
The Duchy of Cornwall’s official site said the Prince of Wales pays income tax on this income – which is not a requirement, but something he does voluntarily.
The King also voluntarily pays income tax on the Duchy of Lancaster.
The King ended financial support for Prince Andrew last year as he faced increasing public scrutiny over his links with convicted sex offender Jeffrey Epstein.
‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source www.bbc.co.uk ’
