Tuesday, 11 Dec 2018

Queen’s income from private property reaches 20 million pounds sterling

The queen's income from her private estate of the Duchy of Lancaster increased from nearly a million pounds to just over £ 20 million, revealed new accounts.

The money that the queen receives from the Duchy and the assets held in trust for the Sovereign – increased by 4.9 percent, the figures for the fiscal year 2017-18 showed.

The net surplus that the head of state received from the Duchy, which serves to finance his public and private funds. Nathan Thompson, Managing Director and Clerk of the Duchy Council, said: "This year has been another positive year for the Duchy with strong growth in almost all our business sectors. .

"Continued restoration and a more focused internal approach to the management of our investigations have served us well this year and have significantly contributed to improving tenant relationships, reducing voids, and increasing customer satisfaction. efficiency. 659003] The Duchy of Lancaster saw the value of its assets increase by 2.9%, from £ 518.7m to £ 533.8m.

He is the guardian of thousands of acres in England and Wales, including key urban developments, historic buildings, high quality farmland and areas of great natural beauty.

The estate is not subject to corporation tax because it is not a separate legal entity for tax purposes, but the Queen pays the duchy.

The royal accounts released last month showed that the Queen's annual expenditures were increasing by about 13 percent as a ten-year renovation program began at Buckingham Palace.

Taxpayer funds received by the monarchy to pay official duties and other expenses – the Sovereign Grant – increased from £ 42.8 million to £ 45.7 million, staff costs, travel and maintenance has all increased compared to the previous year.

The Queen's expenses also rose from £ 41.9 million to £ 47.4 million, while there was a 16 percent increase in income generated by the royal household to supplement the sovereign grant basic.

The 45,600-acre possessions of the Duchy have provided an independent source of revenue for the Monarch's "Privy Purse" since 1399.

It has been multiplied by 200 since its accession in 1952 when the surplus was only £ 100,000, and as recently, in 2012, it was only £ 12.9 million.

Money serves to support the royal duties of his children, the Duke of York, the Princess Royal and the Earl of Wessex, as well as a number of other minor members of the royal family.

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