Yahoo Finance Monarchy Cost UK Taxpayers £40m Last Year
New figures show the monarchy cost the UK taxpayer £40.1m last year, with more than £16m spent on the upkeep of royal palaces and other buildings.
That is an increase of £4.6m on the previous financial year.
But the Queen and the Royal Family's official travel costs to the taxpayer fell more than £1m to £4m.
The single most expensive trip was taken by the Prince of Wales, whose two-day journey in September from Scotland to Yorkshire on official business cost taxpayers more than £33,000, royal accounts showed.
Buckingham Palace and the Government are reviewing the amount of money the Queen receives each year from the Treasury.
It comes at a time when new figures reveal that the Crown Estate - a £12bn property portfolio including Regent Street and Ascot racecourse - has made a record annual profit of £304.1m.
That money goes to the Treasury, but the Queen receives a Sovereign Grant of 15% of the estate profits, paid two years in arrears.
It means the amount she receives under that grant would rise to more than £45m in 2017.
Every five years, the Palace and the Government review the formula for calculating the grant, and that is being discussed in this financial year.
It is unclear what effect the Brexit vote will have on the review, as it involves the Chancellor of the Exchequer and the Prime Minister, who will be replaced by the autumn.
The Queen has seen a 38% rise in the money she receives in the Sovereign Grant in recent years.
Keeper of the Privy Purse, Sir Alan Reid, said that despite the investment they are making, the condition of the estate was deteriorating at a faster rate than they have been able to respond to.
He said a significant part of the current grant will be used to increase the annual works programme to tackle the backlog in essential maintenance.
Meanwhile, Prince Charles' income from his private Duchy of Cornwall estate of lands, buildings and financial investments has increased by 3.1% to £20.5m.
His tax bill increased by £531,000 to just over £5m.
The Duchy of Cornwall owns assets such as London's Oval cricket ground, and has the Isles of Scilly in its portfolio.
The estate is given to the heir to the throne and is made up of 132,518 acres of land across 23 counties, mainly in the south-west of England.
Prince Charles also received £1.4m from the Sovereign Grant and government departments last year.
