Nicolai Haugsted
The monarchy is an expensive deal.
Fresh royal accounts have pulled back the curtain on how much it costs to keep the British monarchy running, revealing everything from tax payments and helicopter flights to palace maintenance and private income.
Figures released as part of the annual Sovereign Grant report show that the Royal Family’s overall cost reached an estimated £552.6 million during the 2025-26 financial year, while King Charles and Prince William together paid more than £50 million in taxes during the Carolean era.
Express has gathered all the numbers.
Taxpayer funding rises sharply
Taxpayer support for the monarchy increased significantly during the latest financial year.
The Sovereign Grant, which finances official royal duties, staffing, travel and palace upkeep, stood at £132.1 million in 2025-26, up from £86.3 million the previous year. The increase is largely linked to profits generated by the Crown Estate’s offshore wind farm agreements.
Looking further ahead, the monarchy is expected to receive £99.9 million through the Sovereign Grant in 2027-28 under a revised funding formula of 20.5% of Crown Estate profits, compared with £132 million received in 2025-26. The reduction follows Crown Estate profits of £487 million.
Official net expenditure by the monarchy also climbed, rising from £85.2 million to £117.2 million over the past year.
Charles and William’s private finances
King Charles earned £25.2 million in private income from the Duchy of Lancaster, an increase from £24.4 million a year earlier.
Financial disclosures also revealed that the King paid £12.9 million in personal tax during the 2024-25 tax year, making him the first British head of state to publicly disclose his personal tax bill.
Prince William received £21.6 million in annual private income from the Duchy of Cornwall, slightly lower than the £22.9 million reported the previous year.
Figures also showed that William personally paid £7.76 million in tax during 2024-25, marking the first public disclosure since inheriting the Duchy of Cornwall.
Palace maintenance remains the biggest expense
Maintenance of royal properties represented the monarchy’s largest operational cost.
Spending on palace repairs and property maintenance rose sharply to £67.5 million, compared with £41.2 million the year before.
Staff costs also increased, with the Royal Household’s wage bill reaching £33.7 million, up from £29.9 million.
Housekeeping and hospitality expenses climbed from £3.2 million to £3.5 million.
Meanwhile, the Royal Household generated £21.3 million in additional income to supplement the Sovereign Grant, only slightly below last year’s £21.5 million.
Rental properties leased to non-working members of the Royal Family, including Princesses Beatrice and Eugenie, Royal Household employees and other tenants, generated £3.9 million in income. No breakdown was provided showing how much King Charles charges his nieces.
Travel bill continues to grow
Official travel cost £5.1 million during the financial year, compared with £4.7 million previously.
Members of the Royal Family completed 177 helicopter journeys, costing a combined £733,063, with each trip averaging below £20,000.
The single most expensive journey was Prince William’s official visit to Saudi Arabia, which cost £130,106 after including a planning flight by staff.
King Charles and Queen Camilla’s state visit to Italy generated a flight bill of £126,946.
Busy year for the monarchy
Beyond the financial figures, the report highlighted another active year for the working royals.
King Charles and Queen Camilla carried out 708 public engagements across the United Kingdom during 2024-25, an increase of 104 compared with the previous year.
Official royal residences also welcomed approximately 97,000 guests to events throughout the year.
Workforce diversity figures showed that 12% of Buckingham Palace employees come from ethnic minority backgrounds, leaving the Royal Household 2 percentage points short of its stated target of 14% by December 2025.
