Royal Duchies are reportedly earning millions from their military rental deals
The Duchies of Lancaster and Cornwall, private estates of King Charles and Prince William respectively, have struck rental deals worth millions of pounds with the Armed Forces, providing essential infrastructure and training grounds, it has been reported.
The Duchy of Cornwall has charged the Royal Navy more than £1m since 2004 to build and use jetties and moor warships along the Cornish coastline, according to an investigation by Channel 4's Dispatches and the Sunday Times.
It claims this ongoing arrangement provides crucial access for naval operations while generating significant revenue for the Duchy.
The report also claims that the Duchy of Cornwall has also entered into agreements with the Ministry of Defence, allowing the Armed Forces to train on Duchy-owned land in Dartmoor.
In addition to its military-focused deals, the Duchy of Lancaster has signed a £11.4m contract with Guy's and St Thomas' NHS Trust to store a fleet of electric ambulances in one of its warehouses.
Both Duchies have also leased land to local state schools, expected to bring in around £600,000 over the lifetime of the agreements.
The Duchies, exempt from corporation tax and capital gains tax, are significant sources of income for the royals.
Neither the King nor the Prince of Wales are legally obliged to pay income tax, but both have offered to do so.
King Charles's earnings from the Duchy of Lancaster rose to £27.4m last year, while Prince William's income from the Duchy of Cornwall surpassed £23.6m.
Responding to the investigation, a Duchy of Lancaster spokesperson said: "The Duchy of Lancaster operates as a commercial company, managing a broad range of land and property assets across England and Wales.
"It complies with all relevant UK legislation and regulatory standards applicable to its range of business activities."
Related topics
Join Our Newsletter
