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Step 2 Round the amount calculated under Step 1 up to the nearest £100,000. Step 3 Find the greater of—. the amount determined under Step 2, and. the amount of the Sovereign Grant for the financial year that immediately precedes the relevant financial year. That amount is “the Step 3 amount”.
- 1The Sovereign Grantu.K.
- 2Accounts of The Royal Householdu.K.
- 3The Reserve Fundu.K.
- 4Accounts of The Reserve Fundu.K.
- 5Annual Report as to The Amount of Sovereign Grantu.K.
- 6Determination of The Amount of Sovereign Grantu.K.
- 7Review by Royal Trustees of Sovereign Grantu.K.
- 8power to Change Level of Sovereign Grantu.K.
- 9Duchy of Cornwall Income and Grant to The Heir to The Throneu.K.
(1)A Sovereign Grant is to be paid by the Treasury to Her Majesty for each financial year. (2)The purpose of the Sovereign Grant for a financial year is to provide resources for use for that year by the Royal Household in support of Her Majesty's official duties (see section 13). (3)The amount of the Sovereign Grant for the financial year 2012-13 i...
(1)The Keeper of Her Majesty's Privy Purse (referred to in this Act as “the Keeper”) must keep proper accounting records relating to the Royal Household. (2)As soon as practicable after the end of a financial year (“the financial year”), the Keeper must— (a)prepare a statement of accounts of the Royal Household for that year, and (b)give a copy of ...
(1)There is to be a Reserve Fund consisting of monies received by the Royal Trustees under this section and anything deriving from those monies. (2)The Royal Trustees may invest any of the Reserve Fund in any way they consider appropriate. (3)If the amount of the Sovereign Grant for a financial year exceeds the audited net relevant resources used f...
(1)The Royal Trustees must keep proper accounting records of the Reserve Fund. (2)As soon as practicable after the end of a financial year (“the financial year”), the Royal Trustees must— (a)prepare a statement of accounts of the Reserve Fund for that year, and (b)give a copy of the statement to the Comptroller. (3)The statement of accounts— (a)mus...
(1)In each financial year the Royal Trustees must prepare a report— (a)stating their determination in accordance with section 6 of the amount of the Sovereign Grant for the following financial year, and (b)setting out how that amount has been determined. (2)The report must be prepared as soon as practicable after the Comptroller has done all of the...
(1)The amount of the Sovereign Grant for a financial year (“the relevant financial year”) is to be determined by the Royal Trustees as follows— 1. Step 1 Calculate [F112%] of the income account net surplus of the Crown Estate (see section 12) for the base year.“The base year” means the financial year that begins two years before the beginning of th...
(1)As soon as practicable after the end of a review period, the Royal Trustees must review whether the percentage for the time being specified in Step 1 of section 6(1) is appropriate. (2)They must prepare a report that— (a)states whether they consider that the percentage is or is not appropriate, (b)if they consider that it is not appropriate, sta...
(1)This section applies where a report under section 7 states that the Royal Trustees consider that the percentage for the time being specified in Step 1 of section 6(1) is not appropriate. (2)The Treasury must by order made by statutory instrument substitute, for that percentage, the percentage specified by the Royal Trustees in the report as the ...
(1)Where the Duke of Cornwall for the time being is under 18 for any period in a financial year— (a)the amount of the Sovereign Grant for that year is reduced by an amount equal to 90% of the income account net surplus of the Duchy of Cornwall for that period, and (b)the income of the Duchy of Cornwall for that year, up to the amount by which the S...
Crown Estate revenue account profit for the financial year two years previous, subject to the provision that the Sovereign Grant does not decrease year on year. Accordingly, the total Sovereign Grant for 2024-25 will remain unchanged at £86.3 million. In addition to the Sovereign Grant, the official duties of Royal Family and the maintenance ...
The Sovereign Grant Act 2011 (c. 15) is the Act of the Parliament of the United Kingdom that introduced the Sovereign Grant, the payment that is paid annually to the monarch by the government in order to fund the monarch's official duties. It is usually set as a percentage of annual income from the Crown Estate.
Legislative background. t of the Sovereign GrantUnder section 1(1) of the Sovereign Act 2011 (“the 2011 act”) the Treasury is to pay His Majesty a Sovereign Grant (“the grant”) for each financial year.1 The purpose of the grant is to provide resources for use for that year by the Royal Household in support of His Majesty’s official ...
Aug 8, 2023 · The Sovereign Grant Act 2011 came into effect on 1 April 2012. It sets the single grant supporting the Monarch’s official business, enabling The King to discharge his duties as Head of State. It ...
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What is a Sovereign Grant?
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What happens if a Sovereign Grant is not spent in a year?
on 5(1) of the 2011 act.1.11 This report states the determination of the Royal Trustees of the amount of the Sovereign Grant for th. financial year 2024-25. It also states how that am. e financial year 2024-251.12 The amount of the Sovereign Grant for the financial year. 2024-25 is £86,300,000.1.13 A statement of how that amount has been ...
