The Prince of Wales will no longer receive £1.5million in annual rent, it has been announced. Prince William has asked for the sum to be removed from the multi-million-pound income he receives as heir to the throne from the Duchy of Cornwall, with the money spent on regenerating the local community instead. The prince received a private income of £21.6 million in 2025-26, the latest Duchy accounts showed, with William also revealing his tax bill of £7.76 million for the first time.

A Dispatches and Sunday Times investigation in 2024 discovered the duchy signed a £37million deal in 2022, before Charles became King and William the Prince of Wales, to lease Dartmoor Prison to the Ministry of Justice, paying £1.5million a year over 25 years, and a deal with the Ministry of Defence to allow the Armed Forces to train on Dartmoor land. But the category C prison in Devon has been empty since July 2024 after high levels of radon, a toxic gas that occurs naturally in soil and rocks and can cause lung cancer, were recorded in prisoners’ accommodation.

A community-led regeneration fund will be launched next year to offer social, economic and environmental benefits to Princetown, the isolated rural community next to the prison.

The prince’s private secretary, Ian Patrick, said: “Prince William knows that for many people in Princetown, the prison has long been part of the fabric of the community.

“Its closure has created genuine uncertainty, not just about jobs and businesses, but about the future of the town itself.

“The duke felt strongly that, while those questions remain unanswered, the benefit of this income should remain in the community, helping local people shape that future.”

As heir to the throne, William is entitled to the annual profits from the billion-pound Duchy landed estate, which covers 51,800 hectares across 19 counties.

William, who became the 25th Duke of Cornwall nearly four years ago, has never previously published his own tax bill, despite the King doing so when he was Duke of Cornwall.

The prince decided to foster greater transparency, coinciding with Charles's first release of his tax bill as monarch.

He pays income tax voluntarily at the highest rate on any net surplus, but once official expenditure has been deducted.

The Duchy income is used to fund the charitable, private and part of the official lives of William, the Princess of Wales and their children, Prince George, Princess Charlotte and Prince Louis.

William paid a £7.76million tax bill for 2024-25 in income and capital gains tax, and paid £8.34million in 2023-24, having now paid more than £20million in tax to HMRC since he became Prince of Wales.

Mr Patrick said: “The prince recognises the interest in these arrangements and the importance of appropriate transparency.”

Kensington Palace said the number of staff employed by the couple’s household has risen to 74 from 68.

Diversity figures show that 14.9% of staff were from an ethnic minority background, up from 13.2% the year before, and that 73% of Kensington Palace staff are female and 27% male.