What is the Duchy of Cornwall? Prince William’s estate explained as it faces scrutiny

The Duchies of Cornwall, owned by the Prince of Wales, and Lancaster, held in a belief for King Charles, had been the subject of investigation in a bombshell-packed episode of Dispatches, which aired on Saturday, November 2.

The 2 Royal duchies are personal estates fashioned, within the case of Lancaster, greater than 700 years in the past. They’ve been handed down by way of generations of the Royal Household since and generate tens of millions of kilos. Even so, their property and actions can typically really feel a bit of unclear.

Here’s what that you must know concerning the Duchy of Cornwall and the Duchy of Lancaster.

What’s the Duchy of Cornwall and who owns it?

The Duchy of Cornwall is a major landholding within the UK, established in 1337 by King Edward III.

Valued at greater than £1 billion, it was created to offer an revenue for the eldest son of the reigning British monarch. The duchy includes an in depth portfolio of land, properties, and investments primarily in south-west England, protecting roughly 130,000 acres throughout 23 counties. Its holdings embrace residential, industrial, and agricultural land — and forests, coastal areas, and varied historic properties.

The duchy is owned by Prince William, as he’s the eldest son of King Charles III.

Possession of the Duchy of Cornwall historically passes to the monarch’s eldest upon delivery or the monarch’s ascension to the throne, making him the Duke of Cornwall.

The Duchy of Cornwall is thus a non-public property, unbiased of the Crown Property, which the reigning monarch owns. Nevertheless, Prince William doesn’t personal the duchy’s property outright; he manages them as a steward and advantages from the revenue they generate, which helps his public, charitable, and personal actions.

Prince William is proven plans of the Duchy of Cornwall’s first housing challenge, in Nansledan, Newquay, in Might 2024

REUTERS

If there isn’t a male inheritor, the duchy reverts to the monarch’s management, however since its founding, there has at all times been an inheritor to inherit the title of Duke of Cornwall.

The duchy’s income offers the Duke of Cornwall with a major revenue. Like his father earlier than him, Prince William makes use of the revenue primarily to fund his official actions, charitable work, and private bills — and people of his speedy household. Within the final monetary yr, the prince acquired £23.6m from the property.

Along with its monetary position, the Duchy of Cornwall has been concerned in pioneering environmental and social initiatives, particularly below King Charles III’s tenure. Many duchy properties have been developed to deal with sustainability and conservation, reflecting the King’s long-standing dedication to environmental points.

The Government’s Treasury must approve all property transactions of £500,000 or more. The accounts are shown to the House of Commons and the House of Lords yearly.

What’s the Duchy of Lancaster and who owns it?

The Duchy of Lancaster is a non-public property that has belonged to the British monarch because the medieval interval, and it serves as a supply of unbiased revenue for the reigning king or queen. In contrast to the Duchy of Cornwall, which historically helps the inheritor to the throne, the Duchy of Lancaster helps the sovereign instantly.

The duchy offers revenue to the British monarch to cowl official and personal bills that the Authorities doesn’t fund. Its income go to a fund referred to as the “Privy Purse,” which helps the monarch’s private and official expenditure.

King Charles III, in his position as monarch, owns the duchy. It’s held in belief, that means that it’s not the king’s private property, however he advantages from its revenue.

The duchy was based in 1265 when lands had been granted to Edmund Crouchback, the youthful son of King Henry III. It formally grew to become the Duchy of Lancaster in 1351 when it was established for John of Gaunt, a son of King Edward III. When Henry IV (John of Gaunt’s son) took the throne, he decreed that the duchy would stay separate from different crown property and be held in perpetuity for the reigning monarch.

King Charles III owns the Duchy of Lancaster in his position as monarch

PA Wire

The duchy owns about 45,000 acres of land throughout England and Wales. Its property embrace agricultural and industrial properties, city developments, historic buildings, and pure sources.

The duchy is overseen by the Chancellor of the Duchy of Lancaster, a senior Authorities minister. Nevertheless, the property is managed independently, with its personal administrative construction {and professional} staff.

The duchy’s income is distinct from the Sovereign Grant (funded by UK taxpayers) and offers a supply of personal revenue. Within the final monetary yr, the King acquired £27.4m from the Duchy of Lancaster.

Do the Royals pay tax on the duchies?

The King and the Prince of Wales each pay revenue tax on the income they obtain from the estates, however the Duchies themselves are exempt from quite a lot of companies taxes.

They don’t pay company tax or capital features tax, and inheritance tax will not be paid when they’re handed down the royal line of succession.

What did Channel 4’s Dispatches documentary declare?

Channel 4’s Dispatches programme, The King, The Prince and Their Secret Thousands and thousands, and Sunday Occasions, investigated the Duchies of Lancaster and Cornwall.

The investigation discovered the estates cost public our bodies, together with the NHS, state faculties, and the armed forces, to be used of their land — and the revenue they obtain from them goes properly into the tens of millions.

Dispatches reported that the Duchy of Lancaster charged £11.4m over 15 years to Man’s and St Thomas’ NHS Belief in London for storing ambulances in an estate-owned warehouse. The Duchy of Cornwall, in the meantime, reportedly acquired over £1m from the navy since 2004 for jetties and mooring on Cornish land.

The programme additionally raised issues concerning the high quality of some duchy rental properties, with 14 per cent in Cornwall and 13 per cent in Lancaster failing minimal power requirements — a authorized requirement since 2020.

The Duchy of Lancaster acquired not less than £28m from wind farm cabling charges resulting from a feudal proper on its land, regardless of the King’s public statements on redirecting income from Crown Property wind farms for public profit, Dispatches reported.

The programme additionally claimed the Duchy of Cornwall has a profitable take care of the Ministry Of Defence to hold out military coaching on Dartmoor.

Conservative Social gathering councillor Philip Sanders stated on the programme: “I see no motive why the Duchy couldn’t comply with let the MoD use the moor with out cost […] it’s the coaching of our troops.”

What have the royal estates stated?

A Duchy of Cornwall consultant stated: “The Duchy of Cornwall is a non-public property with a industrial crucial which we obtain alongside our dedication to restoring the pure atmosphere and producing optimistic social affect for our communities.

“Prince William grew to become Duke of Cornwall in September 2022 and since then has dedicated to an expansive transformation of the duchy.

“This features a important funding to make the property web zero by the top of 2032, in addition to establishing focused psychological well being assist for our tenants and dealing with native companions to assist sort out homelessness in Cornwall.”

A Duchy of Lancaster consultant stated: “The Duchy of Lancaster operates as a industrial firm, managing a broad vary of land and property property throughout England and Wales. It complies with all related UK laws and regulatory requirements relevant to its vary of enterprise actions.

“The Chancellor of the Duchy of Lancaster is accountable to the Sovereign for the administration of the Duchy. Nevertheless, he/she delegates sure features, notably these relating to asset administration, to the Duchy Council.

“Whereas His Majesty The King takes an in depth curiosity within the work of the Duchy, the day-to-day administration of the portfolio is the accountability of the Council and government staff.

“The duchy has made quite a lot of key environmental enhancements lately, delivering a major improve within the variety of A+, A and B EPC rankings awarded to our properties on account of refurbishment or restoration works.

“Presently, over 87 per cent of all Duchy let properties are rated E or above. The rest are both awaiting scheduled enchancment works or are exempted below UK laws.”

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What is the Duchy of Cornwall? Prince William’s estate explained as it faces scrutiny

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What is the Duchy of Cornwall? Prince William’s estate explained as it faces scrutiny

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