Prince William gives up £1.5 million-a-year income from abandoned prison
The Prince of Wales has ruled that he will no longer personally benefit from the controversial £1.5 million annual rent generated by the derelict Dartmoor Prison, demanding that the sum be removed from the Duchy of Cornwall income from 2026-27, instead funding the regeneration of the local community.
The latest Duchy accounts showed the prince earned private income of £21.6 million in 2025-26, with a £7.76 million tax bill also revealed for the first time.
2024 Posts And Sunday Times The investigation uncovered the Duchy’s £37 million deal to lease Dartmoor Prison to the Ministry of Justice for £1.5 million a year for 25 years, signed before Charles became King and William Prince of Wales in 2022.
A separate agreement also allows the Ministry of Defense to conduct training on Dartmoor soil.
But the category C prison in Devon has been empty since July 2024 after prisoners’ accommodation recorded high levels of radon gas, a toxic gas that occurs naturally in soil and rocks and can cause lung cancer.
A community-led regeneration fund will be launched next year to deliver social, economic and environmental benefits to Princetown, the isolated rural community next to the prison.
Ian Patrick, the prince’s private secretary, said: “Prince William knows that for many people in Princetown the prison has long been part of the fabric of society.
“The closure has created real uncertainty, not only for jobs and businesses, but also for the future of the town.
“The Duke felt strongly that while these questions remained unanswered, the benefit of this income should remain in the community and help local people shape the future.”
As heir to the throne, William is entitled to benefit from annual profits from the billion-pound Duchy’s estate, which covers 51,800 hectares across 19 counties.
William, who became the 25th Duke of Cornwall nearly four years ago, had never published his own tax code before, although the King had done so while he was Duke of Cornwall.
The prince made the decision himself to ensure greater transparency; This coincided with Charles announcing his tax bill for the first time as monarch.
It voluntarily pays income tax at the highest rate on any net surplus, but after deducting official expenses.
Duchy income is used to fund some of the charitable, private and official lives of William, Princess of Wales, and their children Prince George, Princess Charlotte and Prince Louis.
William paid a tax bill of £7.76 million in income and capital gains tax for 2024-25 and £8.34 million in 2023-24; He has paid more than £20 million in tax to HMRC since becoming Prince of Wales.
Mr Patrick said: “The Prince recognizes the interest in these regulations and the importance of appropriate transparency.”
Kensington Palace said the number of staff working at the couple’s home increased from 68 to 74.
Diversity figures show 14.9% of staff are from ethnic minority backgrounds, up from 13.2% the previous year, and 73% of Kensington Palace staff are women and 27% are men.
