The Prince of Wales has decided he will no longer personally benefit from the controversial £1.5 million annual rent generated by the abandoned Dartmoor Prison, requesting the sum be removed from his Duchy of Cornwall income from 2026-27 onwards to instead fund local community regeneration.
The latest Duchy accounts showed the prince received a private income of £21.6 million in 2025-26, with his £7.76 million tax bill also revealed for the first time.
A 2024 Dispatches and Sunday Times investigation uncovered the Duchy's £37 million deal, signed in 2022 before Charles became King and William the Prince of Wales, to lease Dartmoor Prison to the Ministry of Justice for £1.5 million annually over 25 years.
A separate agreement also allows the Ministry of Defence to train on Dartmoor land.
But the category C prison in Devon has been empty since July 2024 after high levels of radon, a toxic gas that occurs naturally in soil and rocks and can cause lung cancer, were recorded in prisoners’ accommodation.
A community-led regeneration fund will be launched next year to offer social, economic and environmental benefits to Princetown, the isolated rural community next to the prison.
The prince’s private secretary Ian Patrick said: “Prince William knows that for many people in Princetown, the prison has long been part of the fabric of the community.
“Its closure has created genuine uncertainty, not just about jobs and businesses, but about the future of the town itself.
“The duke felt strongly that, while those questions remain unanswered, the benefit of this income should remain in the community, helping local people shape that future.”
As heir to the throne, William is entitled to the annual profits from the billion-pound Duchy landed estate, which covers 51,800 hectares across 19 counties.
William, who became the 25th Duke of Cornwall nearly four years ago, has never previously published his own tax bill, despite the King doing so when he was Duke of Cornwall.
The prince made the decision himself in order to foster greater transparency, coinciding with Charles releasing his tax bill for the first time as monarch.
He pays income tax voluntarily at the highest rate on any net surplus, but once official expenditure has been deducted.
The Duchy income is used to fund the charitable, private and part of the official lives of William, the Princess of Wales and their children Prince George, Princess Charlotte and Prince Louis.
William paid a £7.76 million tax bill for 2024-25 in income and capital gains tax, and paid £8.34 million in 2023-24, having now paid more than £20 million in tax to HMRC since he became Prince of Wales.
Mr Patrick said: “The prince recognises the interest in these arrangements and the importance of appropriate transparency.”
Kensington Palace said the number of staff employed by the couple’s household has risen to 74 from 68.
Diversity figures show of 14.9% of staff were from an ethnic minority background, up from 13.2% of staff the year before, and that 73% of Kensington Palace staff are female and 27% male.
Read MoreHow much does the royal family cost? Key figures as Sovereign Grant increases again
Prince William records most expensive royal trip since his father became King
Note 2200 Embargo: William nets income of xxx as he shares tax bill for first time
King Charles III is expected to reveal his personal tax bill in a bid to boost transparency
Clarence House to remain King’s London home when Buckingham Palace work complete
Home Office eyes up three more military sites to house thousands of asylum seekers
