The british government supports the monarch and some other members of the house of windsor financially by means of the sovereign grant a percentage of the annual profits of the crown estate which is intended to meet the costs of the sovereign s official expenditures. The monarchy cost 67 million 86.
This year the royal household received an extra 19 6 million of taxpayers money due to an increase in expenditure on property maintenance according to buckingham palace.
How much tax money goes to royal family. The last set of accounts 2016 17 show that the crown estate made a profit of 328 8 million leading to an increase in the sovereign grant. How much do the royals cost the taxpayer. The figures which cover april 1 2017 to march 31 2018 reveal that the queen received a 13 percent pay raise though she s not the biggest spender in the family.
The royal family just revealed they received a staggering 104 million from british taxpayers last year. And from 2017 18 the sovereign grant was. Assuming a share portfolio worth each year on average 10 million during the 1952 1992 income tax exemption and assuming an average annual yield of 5 i e 500 000 with tax at 20 i e.
The royal family cost each. The annual allowance was adjusted. This year the amount stated in the report of the royal trusteed of the grant is 82 2 million.
According to the latest sovereign grant accounts that were published last week taxpayers in the uk are forking over more money than ever for the royal family. That 1 3 million allowance which is the equivalent to 190 million in modern dollars was to pay for the king s household expenses and royal obligations. A percentage normally 25 of the value comes from income of the crown estate.
This amount is equal to slightly less than one u s. 42 million was put towards the refurbishment of buckingham palace and other royal residencies while 1 2. The core grant based on this 15 per cent figure was 49 3m for the year 2019 18 up 3 6m on the previous year.
This includes the costs of the upkeep of the various. The royal household released its annual financial report on tuesday which details everything the queen and other royals spent their money on between april 2018 and march 2019. The finances of the british royal family come from a number of sources.
Vanity fair estimates that about 69 pence of each british taxpayer s money went to funding the royal family in 2017 2018.