The annual Sovereign Grant for 2025-26 and other royal accounts have been officially released, revealing that the Royal Family cost £552.6 million. The grant covers official duties, staff, travel, and palace maintenance. King Charles and Prince William have paid over £50 million in tax during the Carolean era.
Sovereign Grant and Crown Estate Profits
The Sovereign Grant for 2025-26 is set at £132.1 million, funded by taxpayers. This is a significant increase from £86.3 million in 2024-25, driven by profits from Crown Estate wind farm deals. In two years' time, for 2027-28, the grant will drop to £99.9 million due to a new 20.5% formula based on £487 million Crown Estate profits.
King Charles's Private Income and Tax
The King's private income from the Duchy of Lancaster estate rose to £25.2 million, up from £24.4 million. He paid £12.9 million in tax in 2024-25, becoming the first British head of state to disclose their personal tax bill.
Prince William's Duchy of Cornwall Income
Prince William's annual private income from the Duchy of Cornwall estate was £21.6 million, down from £22.9 million the previous year. His personal tax bill for 2024-25 was £7.76 million, published for the first time since he inherited the duchy.
Official Expenditure and Property Maintenance
Official net expenditure by the monarchy rose to £117.2 million, up from £85.2 million in 2024-25. Property maintenance costs surged to £67.5 million, compared with £41.2 million the previous year. The wage bill for staff increased to £33.7 million, up from £29.9 million.
Royal Travel Costs
Official royal travel cost £5.1 million, a rise from £4.7 million. This includes £733,063 for 177 helicopter journeys, each costing less than £20,000. The most expensive journey was Prince William's official visit to Saudi Arabia on a charter flight, costing £130,106, including a scheduled planning flight by staff. The King and Queen's flight to Rome for their state visit to Italy cost £126,946.
Additional Income and Expenditure
Rental income from properties let to non-working royals, including Princesses Beatrice and Eugenie, and Royal Household staff, generated £3.9 million. No figures were released for the exact amount the King pays for his nieces. Housekeeping and hospitality costs rose to £3.5 million, up from £3.2 million. Income earned to supplement the Sovereign Grant was £21.3 million, slightly down from £21.5 million last year.
Public Engagements and Diversity
The King and Queen carried out 97,000 public engagements across the UK in 2024-25, a rise of 104. A total of 97,000 guests attended events at official royal palaces. The proportion of staff from ethnic minority backgrounds working for Buckingham Palace stands at 12%, 2% short of the target of 14% by December 2025.
