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Years Of The King’s Trust

The King also privately owns Sandringham Home in Norfolk and Balmoral Fort in Aberdeenshire, that are his private property, inherited from Elizabeth II. The Palace of Holyroodhouse and Hillsborough Citadel serve as official royal residences when the monarch is in Scotland or Northern Ireland, respectively. Each Buckingham Palace and Windsor Citadel, the monarch’s weekend home in Berkshire, are used to host state visits. The monarch also receives the income of the Duchy of Lancaster, and the Prince of Wales receives the revenue of the Duchy of Cornwall. Senior members of the royal family, who characterize the monarch, draw their revenue from public funds known as the Sovereign Grant, an annual fee of the British authorities to the monarch. Given the royal household’s public function and activities, it’s generally referred to by courtiers as “The Firm”, a term that originated with George VI.

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