Frequently Asked Questions
How are The Prince and The Duchess's official activities funded?
The vast majority of Their Royal Highnesses’ activities are paid for out of The Prince’s income from the Duchy of Cornwall, the private estate which supports The Heir to The Throne.
The Prince voluntarily pays tax, at the normal rate, on this income. He chooses to spend the majority of his after-tax income to support his and The Duchess’s working activities. The income also funds his personal spending.
In four specific areas, public money is used to support The Prince and The Duchess. These are: security costs; travel when Their Royal Highness fly or go by train to and from official engagements; property maintenance on royal residences; and a small annual sum to support communications cost.
In 2005-06, The Prince’s Annual Income from The Duchy of Cornwall was £14.1 million. He paid tax, after deducting his business expenses, of £3.3 million. He spent £6.6 million supporting his and his wife’s official duties and charitable activities.
Public grants for travel totalled £1.1m, for property £355,000 and for communications £80,000. The cost of security is not disclosed.
These and other financial figures are published every year in the Annual Review. Click here for downloads of previous Annual Reviews.