<P> Under the Sovereign Grant Act 2011, the system of funding the Royal Household by a mixture of Civil List payments and Grants - in - Aid was replaced . From 1 April 2012 a single annual Sovereign Grant has been paid by the Treasury . The level of funding for the Royal Household is now linked to the Government's revenue from The Crown Estate . </P> <P> The Sovereign Grant Annual Report states that the Sovereign Grant was £ 31 million for 2012 - 13, £ 36.1 million for 2013 - 14 and £ 37.9 million for 2014 - 15 . The amount of the Sovereign Grant is 15% of the income account net surplus of the Crown Estate for the financial year that began two years previously . The arrangements will be reviewed by 2016 (subsection 7 (5) of the Act). Step 4 of subsection 6 (1), and subsection 6 (4), of the Act provide a mechanism to prevent the amount of the Sovereign Grant increasing beyond what is necessary because of the growth in Crown Estate revenue . Under the Sovereign Grant the National Audit Office is able to audit the Royal Household . </P> <P> On November 18, 2016 a plan was announced to increase the Sovereign Grant from 15% to 25% to renovate and repair Buckingham Palace . The percentage is set to revert to 15% when the project is finished in 2027 . </P> <P> The Duchy of Lancaster is the private estate of the British Sovereign (now Queen Elizabeth II) consisting of land holdings and other assets . As it is held in perpetual trust for future generations of Sovereigns, the Sovereign is not entitled to the estate's capital . The revenue profits of the Duchy are presented to the Sovereign each year and form part of the Privy Purse, providing income for both the official and private expenses of the monarch . In the financial year ending 31 March 2015, the Duchy was valued at £ 472 million, providing £ 16 million in income . </P>

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