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The Queen (or officials of the Royal Household acting on her behalf) has four sources of funding: the Civil List, which meets official expenditure relating to her duties as Head of State and Head of the Commonwealth; the Privy Purse, which is primarily used to meet expenditure incurred by The Queen as sovereign but which is not met from the Civil List; the Grants-in-Aid from Parliament for upkeep of the Royal Palaces and for Royal travel; and Her Majesty's own personal income, which meets private expenditure. The Queen pays tax on her personal income and capital gains. The Civil List and the Grants-in-Aid are not taxed because they cover official expenditure. The Privy Purse is fully taxable, subject to a deduction for official expenditure. |
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