How much did the UK Royal Family cost in 2021-2022.
There are many reports that state the cost of maintaining the Royal Family at between £100 million and £500 million.
There are other reports that say the Royal Family doesn’t cost the taxpayer anything.
I feel it is somewhere in between, but drops to nothing when taking account of the tourism income that they create.
The Royal Family and the Taxpayer.
The Crown Estate profits are given to the UK treasury, with the Sovereign normally being given back 15%, to cover their costs.
Who owns the Crown Estate?
The Crown Estate, is owned by the Sovereign in right of the Crown, and essentially has been since the time of the Norman Conquest.
The Crown Estate is not owned by the Government.
In 1760, George III reached an agreement with the Government over the ownership of, and the income from, the Royal Family’s property.
The Crown Lands, owned by the Royal Family, would be managed on behalf of the Government and the surplus revenue would go to the Treasury.
It has been agreed that, although owned by the Sovereign, the Sovereign cannot sell it.
It was also agreed that the income from the Crown Estate would be divided between the Government and the Royal Family.
The royal family is given 15% of the Crown Estate profits from the accounting year two years before, with the government keeping the remaining 85%.
This split can be shown with these examples.
Crown Estate 2021-2022
For 2021–2022, the Crown Estate generated a net revenue profit of £312.7 million.
This was distributed as follows:
- 75% to the Taxpayer: £226.4 million.
- 15% to the Royal Family: £55.0 million.
- 10% to the upgrade of Buckingham Palace: £31.3 million.
And an example from 8 years earlier.
Crown Estate 2013-2014.
For 2013–2014, the Crown Estate generated a net revenue profit of £267.1 million.
- 85% to the Taxpayer: £227.0 million.
- 15% to the Royal Family: £40.1 million.
Sovereign Grant Act 2011.
The Sovereign surrenders the revenue from The Crown Estate to the government. Over the last ten years, the revenue paid to the Exchequer is £3 billion for public spending.
The Sovereign also has personal income, and in 1992, the Sovereign volunteered to pay income tax and capital gains tax, and since 1993 her personal income has been taxable as for any other taxpayer.
The Queen has always been subject to Value Added Tax and pays local rates on a voluntary basis.
Where does the Royal Family income go?
Two of the major costs that the Royal Family has to cover, from that income, are:
- £23.7 million in Payroll costs.
- £4.5 million in Travel costs (2,300 official engagements across the United Kingdom and overseas.)
Sources:
thecrownestate.co.uk/en-gb/resources/faqs/
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.
39.1 - 811,336