How is the financial security of the Duchy protected?
Because of the central and continuing role of the Sovereign and the Heir to the Throne, special safeguards are put into place for the Duchy of Cornwall, even though it is a private estate. In other words, because the Monarchy is a continuing institution and because it is right that it should have some private income and financial independence, controls are needed to ensure that one generation does not ‘sell the family silver’. Under the 1337 charter, as confirmed by subsequent legislation, The Prince of Wales is not entitled to the proceeds or profit on the sale of capital assets, and only receives the annual income which they generate (which is voluntarily subject to income tax). To ensure that the estate is protected effectively, and for the benefit of future generations, the Duchy’s ‘trust provisions’ have, over the years, been set in legislation, with the financial security of the Duchy overseen by HM Treasury. For example, all property transactions with a value of £200,000 or more
