Is there an official salary for the Princess of Wales?

No. There is no fixed salary in the usual sense. Official and household costs for the Prince and Princess of Wales are funded by the Duchy of Cornwall’s distributable surplus, which varies each year with estate performance, costs, and reinvestment priorities.

How large is the latest Duchy distributable surplus?

The 2025 report shows a £22.9 million distributable surplus for FY2024–25. This funds official and household costs for the Prince and Princess of Wales. Any remaining net surplus after costs is subject to Prince William’s voluntary income tax.

Does Prince William pay income tax on Duchy income?

Yes. Prince William pays income tax voluntarily on the net surplus after official and household costs. This reduces funds available for private use and supports transparency around how estate-generated income is treated at the personal level.

Why does the Duchy matter to ESG-focused investors?

The estate targets net-zero by 2032 and invests across land, housing, and commercial properties in England and Wales. Decarbonisation, retrofit timing, and biodiversity plans can influence capex, tenant demand, and valuations, making its disclosures useful for assessing climate risk and opportunity in UK real assets.

Law and Government

Kate Middleton January 01: William’s Duchy surplus covers royal costs

ByHuzaifa Zahoor January 1, 2026January 1, 2026

Kate Middleton salary searches spike each January, but the latest picture is clear. A 2025 Duchy of Cornwall report shows a £22.9m distributable surplus for FY2024–25, which funds the official and household costs of Prince William and Kate. Prince William voluntarily pays income tax on the net surplus. For UK investors, the Duchy’s scale, tax status, and 2032 net-zero plan matter because the estate invests across land, housing, and commercial properties in England and Wales, shaping regional supply, demand, and ESG standards.