King Charles is set to benefit from an addition of £45 million to his income, driven by a big increase in Crown Estate profits. The rise will see the Sovereign Grant—money towards royal duties—increase to £132 million for 2025-26. This extra money will be put toward the finishing touches of the renovation going on at Buckingham Palace.

King Charles is about to receive a huge salary increase. He will be assessing his revenue increased to 45 million pounds, according to new official data. This is after a large increase in profits from the crown estate, which comprises lands and royalty belonging to the Monarchy.

The Sovereign Grant, the money used to support the royal family’s work, is to increase from £86 million in 2024-25 to £132 million in 2025-26. This extra money comes from the Crown Estate’s profits, which reached £1.1 billion last year. That is a rise of more than 50 percent!

It gives 12% of its profits to the royal family, to be spent on funding royal duties and the ten-year £369 million project to renovate Buckingham Palace. Additional funds brought in will mean that renovation work on the palace c an be completed by 2027, royal aides said.

The level provided by the Sovereign Grant will be reviewed in 2026-27 and changed, if necessary, to ensure that the royal family receives what it needs but does not ask for too much.

The Prince of Wales, as he now was, also received £23.6 million from the Duchy of Cornwall. This is a collection of lands and property that he has inherited from his father. This money helps to fund the Prince and Princess of Wales and their three children. The Prince of Wales, in the same way as his father, pays tax on this income after official costs have been deducted.

Michael Stevens, an aide in charge of managing the royal finances, remarked that the added funds would facilitate finishing renovation work at Buckingham Palace that was much needed, on time and within the budget. It would only be then that the look at trimming The Sovereign Grant would be taken up in a review of 2026-27.

The royal accounts also show that Frogmore Cottage, the house on the Windsor estate that was renovated for the Duke and Duchess of Sussex at a cost of £2.4 million, has now been left vacant. The renovation money has been paid back by the public. As of now, after the Sussexes’ move from the UK, Princess Eugenie and her family lived there, but it is currently standing empty.

In the last year alone, the royal family carried out more than 2,300 official engagements throughout the UK and overseas. King Charles attended 464 of them despite his health issues. The Queen attended 201 engagements on her own, with 103 of those being shared with King Charles.

The Sovereign Grant also paid out £600,000 for the King’s coronation and associated events during the past year. The coronation, all told, cost the Sovereign Grant £800,000, meant in part for staffing and palace events, as well as special items like the Imperial State Crown and the coronation robes.

Profits at the Crown Estate more than doubled to £1.1 billion by 2023-2024, following a figure of £443 million noted in the previous year, due to the profits from offshore wind projects. The Crown Estate has rights over the seabed in Britain and makes money from selling licences to the developers of offshore wind projects.

The Crown Estate used to turn over 25% of its profits to the royal family; last year it cut this to 12%. This was because of the abnormally large revenue generated from the sale of rights to offshore winds. If the 25% formula had remained in place, it would have gifted £275 million to the royal family in 2025-26.

A recent report of the National Audit Office revealed that the renovation project at Buckingham Palace is well run. Though there is some extra expenditure incurred for some unforeseen items like structural damages and asbestos, it states that this renovation project amounting to £238.9 million so far has been well run and is still within the budget.

Gareth Davies of the NAO said that renewing a building as old as this—new plumbing, new heating, all those sorts of things—is an enormous task. To date, the project has been well-managed and the work should continue to provide good value for money if the challenges are managed effectively.