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Channel 4's Dispatches and the Sunday Times conducted an in-depth investigation into the royal family's financial affairs and private estates, resulting in new disclosures.
According to their findings, the Duchies of Lancaster and Cornwall — King Charles' and Prince William's private estates, respectively — have received millions in cash via contracts with governmental agencies and charity groups.
These deals are expected to yield a stunning £50 million in the coming years.
The Duchy of Lancaster, which goes back to the 14th century, acts as a trust for the Sovereign, managing a huge portfolio of land, historic properties, high-quality farms, and natural beauty regions throughout England and Wales.
The Duchy of Cornwall, a counterpart estate to Lancaster, has an astounding worth of more than £1 billion and provides significant revenue to the heir to the throne.
Both the Duchy of Lancaster and the Duchy of Cornwall are immune from Corporation Tax and Capital Gains Tax.
Although King Charles and Prince William are not legally required to pay income tax on the proceeds of their estates, they have chosen to do so voluntarily.
This decision, however, comes amid increased public criticism of the royal estates' special financial privileges and enormous economic impact.
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