UK Royal Family Finances.

UK Royal Family Finances.

An example of reports on the Royal Finances.

The 2022-2023 Sovereign Grant is around £86 million a year but can exceed £369 million if the palace urgently requires 30 more clocks. This money comes from HM Treasury and is funded by the taxpayer. Royals do not pay tax on income from the Sovereign Grant.10 Jan 2023

How accurate is that statement?

The story states: “This money comes from HM Treasury and is funded by the taxpayer.”

It is actually funded by the Crown Estate, not the taxpayer, with the Crown Estate giving the taxpayer £312.7 million in that year, before that £86.3 million is given back to the Crown (The Sovereign).

The British Royal Family and British Tax

What is the Crown Estate?

The Crown Estate, whose creation dates back to 1760 when George III handed over the management of the country’s lands and coastal waters to Parliament, is owned by the Sovereign in right of the Crown.