Question to the HM Treasury:

To ask Her Majesty's Government, in light of the fact that the Duchy of Cornwall operates in the private sector, how much (1) capital gains, and (2) corporation, tax has been paid by the Duchy in each of the past five years.

The Duchy of Cornwall is a private estate and is not subject to corporation tax. The Duke of Cornwall (The Prince of Wales) pays tax as agreed in the Memorandum of Understanding on Royal Taxation ^[1]. He does not pay capital gains tax since he does not receive the Duchy’s capital gains. The Duke pays income tax voluntarily on his income from the Duchy of Cornwall to the extent that is not used to meet official expenditure.

There is no requirement placed upon private individuals to disclose their accounts or tax to public scrutiny. However, it should be noted that HRH The Prince of Wales does publish an Annual Review ^[2].

[1] https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/208633/mou_royal_taxation.pdf

[2] https://www.princeofwales.gov.uk/annual-review/2018-2019