King Charles and Prince William's property generates millions of pounds from cash-strapped charities and public services including NHS, state schools, and prisons, according to an investigative report by Channel 4's Dispatches in collaboration with The Sunday Times.
It is revealed that major income obtained from the royal estates' of Duchies of Lancaster and Cornwall are exempted from business taxes that fund both the royals' philanthropic activities and lifestyles, as per the investigation conducted by Channel 4's Dispatches in collaboration with The Sunday Times.
The Duchies of Lancaster and Cornwall collectively hold over 5,400 leases, generating an estimated £50 million from public services. A notable arrangement involves a 15-year lease agreement where London’s Guy’s and St Thomas’ NHS hospital trust pays £11.4 million to rent a warehouse for its electric ambulance fleet from the Duchy of Lancaster.
Furthermore, King Charles is anticipated to earn £28 million from wind farm installations, as the Duchy of Lancaster has historic rights to charge for cables running across the foreshore.
Prince William's Duchy of Cornwall has secured significant agreements, including a deal worth £37 million leasing Dartmoor Prison to the Ministry of Justice. The ministry is responsible for all repairs and faces ongoing costs for a facility currently without inmates due to high radon levels.
Since 2005, the Duchy has received at least £22 million in rents from Camelford House, a property beside the Thames. Various tenants, including charities like Marie Curie and Macmillan, have rented the property, but both charities recently left due to financial constraints.
The Royal Navy has spent over £1 million to utilize jetties and dock its ships as part of its arrangement with the Duchy of Cornwall, according to a recent report. The Ministry of Defence also incurs costs for training on Dartmoor, though these expenses remain unspecified.
Additionally, the Duchy of Cornwall has received more than £1.2 million from the rental income of six state schools and a newly built fire station.
King Charles and Prince William have been vocal about environmental issues, but some of their leased residential properties do not meet government energy efficiency standards. An investigation revealed that 14% of homes leased by the Duchy of Cornwall and 13% by the Duchy of Lancaster have an energy performance rating of F or G.
UK law, since 2020, bans leasing properties with ratings below E, unless exemptions apply. The Duchy of Lancaster clarified, “Over 87% of all duchy-let properties are rated E or above. The remainder are either awaiting scheduled improvement works or are exempted under UK legislation.”
Investigative reports reveal that royal estates have agreements with mining and quarrying companies. There are now calls for a parliamentary review and suggestions for integrating the two empires into the crown estate, which contributes its profits to the government.
Currently, King Charles and Prince William pay income tax on profits from these estates after business expenses are deducted. However, they do not disclose the exact amounts.
Critics argue that the estates benefit from tax advantages over competitors since they are exempt from corporation tax and capital gains tax. Baroness Margaret Hodge, former chair of the Commons public accounts committee, said, “This would be a brilliant time for the monarch to say, I’m going to be open, and I want to be treated as fairly as anybody.”
Both duchies assert that they operate commercially and comply with statutory disclosure requirements. They also highlighted their initiatives to become more environmentally friendly.
It is revealed that major income obtained from the royal estates' of Duchies of Lancaster and Cornwall are exempted from business taxes that fund both the royals' philanthropic activities and lifestyles, as per the investigation conducted by Channel 4's Dispatches in collaboration with The Sunday Times.
The Duchies of Lancaster and Cornwall collectively hold over 5,400 leases, generating an estimated £50 million from public services. A notable arrangement involves a 15-year lease agreement where London’s Guy’s and St Thomas’ NHS hospital trust pays £11.4 million to rent a warehouse for its electric ambulance fleet from the Duchy of Lancaster.
Furthermore, King Charles is anticipated to earn £28 million from wind farm installations, as the Duchy of Lancaster has historic rights to charge for cables running across the foreshore.
Prince William's Duchy of Cornwall has secured significant agreements, including a deal worth £37 million leasing Dartmoor Prison to the Ministry of Justice. The ministry is responsible for all repairs and faces ongoing costs for a facility currently without inmates due to high radon levels.
Since 2005, the Duchy has received at least £22 million in rents from Camelford House, a property beside the Thames. Various tenants, including charities like Marie Curie and Macmillan, have rented the property, but both charities recently left due to financial constraints.
The Royal Navy has spent over £1 million to utilize jetties and dock its ships as part of its arrangement with the Duchy of Cornwall, according to a recent report. The Ministry of Defence also incurs costs for training on Dartmoor, though these expenses remain unspecified.
Additionally, the Duchy of Cornwall has received more than £1.2 million from the rental income of six state schools and a newly built fire station.
King Charles and Prince William have been vocal about environmental issues, but some of their leased residential properties do not meet government energy efficiency standards. An investigation revealed that 14% of homes leased by the Duchy of Cornwall and 13% by the Duchy of Lancaster have an energy performance rating of F or G.
UK law, since 2020, bans leasing properties with ratings below E, unless exemptions apply. The Duchy of Lancaster clarified, “Over 87% of all duchy-let properties are rated E or above. The remainder are either awaiting scheduled improvement works or are exempted under UK legislation.”
Investigative reports reveal that royal estates have agreements with mining and quarrying companies. There are now calls for a parliamentary review and suggestions for integrating the two empires into the crown estate, which contributes its profits to the government.
Currently, King Charles and Prince William pay income tax on profits from these estates after business expenses are deducted. However, they do not disclose the exact amounts.
Critics argue that the estates benefit from tax advantages over competitors since they are exempt from corporation tax and capital gains tax. Baroness Margaret Hodge, former chair of the Commons public accounts committee, said, “This would be a brilliant time for the monarch to say, I’m going to be open, and I want to be treated as fairly as anybody.”
Both duchies assert that they operate commercially and comply with statutory disclosure requirements. They also highlighted their initiatives to become more environmentally friendly.
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