The 2018-19 Sovereign Grant of £49.3m

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How is the Sovereign Grant calculated?.

Under the Terms of the Sovereign Grant, the Sovereign receives the equivalent of 15% of Crown Estate profits from the profits of the year ended two years previously.
The UK Treasury, which incorporates the Tax collection system, normally keeps 85%.


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The Crown Estate was created in 1760 when George III handed over the management of the country’s lands and coastal waters to Parliament, in exchange for an income from the Crown Estate in perpetuity. The Crown Estate is owned by the Sovereign in right of the Crown. The Sovereign is the Legal Owner but does not manage or control the asset.

Sovereign Grant 2015/16 to 2018/19

    • The 2015-16 Sovereign Grant was £40.1m.
    • The 2016-17 Sovereign Grant was £42.8m.
    • The 2017-18 Sovereign Grant was £45.7m plus £30.4m for the renovations of Buckingham Palace.
    • The 2018-19 Sovereign Grant was £49.3m plus £32.9m for the renovations of Buckingham Palace.

Buckingham Palace renovations 2017/18 to 2018/19

    • In 2017-18 an extra £30.4m was set aside for the renovations of Buckingham Palace.
    • In 2018-19 an extra £32.9m was set aside for the renovations of Buckingham Palace.

UK Treasury revenue from the Crown Estate 2016/17 to 2018/19

    • In 2016-17 the UK Treasury retained £286.0m (85.0%) from the Crown Estate profits. (£328.8m less £42.8m)
    • In 2017-18 the UK Treasury retained £253.3m (76.9%) from the Crown Estate profits. (£329.4m less £45.7m less £30.4m)
    • In 2018-19 the UK Treasury retained £261.3m (76.1%) from the Crown Estate profits. (£343.5m less £49.3m less £32.9m)

Crown Estate Surplus 2013/14 to 2018/19

    • The Crown Estate surplus for the financial year 2013-14 amounted to £267.1 million thereby producing a Sovereign Grant of £40.1 million for 2015-16, with £xxxx million being retained by the UK Treasury.
    • The Crown Estate surplus for the financial year 2014-15 amounted to £285.1 million thereby producing a Sovereign Grant of £42.8 million for 2016-17, with £xxxx million being retained by the UK Treasury.
    • The Crown Estate surplus for the financial year 2015-16 amounted to £304.1 million thereby producing a core Sovereign Grant of £45.7 million for 2017-18, with £xxxx million being retained by the UK Treasury.
    • The Crown Estate surplus for the financial year 2016-17 amounted to £328.8 million thereby producing a core Sovereign Grant of £49.3 million for 2018-19, with £xxxx million being retained by the UK Treasury.
    • The Crown Estate surplus for the financial year 2017-18 amounted to £329.4 million thereby producing a core Sovereign Grant of £49.4 million for 2019-20, with £xxxx million being retained by the UK Treasury.
    • The Crown Estate surplus for the financial year 2018-19 amounted to £343.5 million thereby producing a core Sovereign Grant of £51.5 million for 2020-21, with £257.6 million being retained by the UK Treasury.

Crown Estate Surplus 2018-19, Sovereign Grant 2020-21.

The Crown Estate surplus for the financial year 2018-19 amounted to £343.5 million.

This produced a core Sovereign Grant, based on 15% of the surplus, giving £51.5 million to the Monarch for official duties. This will be paid in the 2020-21 financial year.

  • £257.6 million to the UK Treasury.
  • £ 51.5 million to the Monarch in 2020-21.
  • £ 34.4 million for Buckingham Palace Reservicing.

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