Charles’s annual income rises to £22.2 million

The Prince of Wales's annual income from the Duchy of Cornwall has risen by nearly 3% to £22.2 million, but is expected to fall "by a significant amount" next year due to the coronavirus pandemic, accounts show.

As heir to the throne, Charles is entitled to the surplus generated by the Duchy's vast portfolio of land, buildings and financial investments.

In 2019-20, the prince's annual private income from the hereditary estate rose by £617,000 – 2.9% – from £21,627,000 in 2018-19 to £22,244,000.

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French President Emmanuel Macron meets Prince Charles, Prince of Wales during a ceremony at Carlton Gardens. The French president is visiting London on June 18, 2020 to commemorate the 80th anniversary of Charles de Gaulle's BBC broadcast to occupied France following the Nazi invasion in 1940 "Appel" .
The Prince of Wales chats with front line key workers who who have responded to the COVID-19 pandemic during a visit to Gloucestershire Royal Hospital.
Picture released by Clarence House of the Prince of Wales and the Duchess of Cornwall (known as the Duke and Duchess of Rothesay when in Scotland) after taking part in a two minute silence to mark the 75th anniversary of VE Day at the Balmoral War Memorial. During the event the Prince of Wales laid a wreath and the Duchess of Cornwall placed flowers at the memorial.
File photo dated 11/03/20 of the Prince of Wales alongside footballer Harry Kane on stage at the annual Prince's Trust Awards 2020 held at the London Palladium. The Prince of Wales has tested positive for coronavirus and is displaying mild symptoms "but otherwise remains in good health", Clarence House has said.
ASCOT, ENGLAND - MARCH 29: Prince Charles, Prince of Wales meets chefs during the Prince's Countryside Fund Raceday at Ascot Racecourse on March 29, 2015 in Ascot, England. (Photo by Matthew Horwood/Getty Images for Ascot)
The Prince of Wales, known as the Duke of Rothesay while in Scotland, during a visit to the Spring Festival of Farming at Dumfries House in Ayrshire.
The Prince of Wales, known as the Duke of Rothesay while in Scotland, talks with a with a bumblebee mascot during a visit to the Spring Festival of Farming at Dumfries House in Ayrshire.
The Prince of Wales, known as the Duke of Rothesay while in Scotland, views a police tractor during a visit to the Spring Festival of Farming at Dumfries House in Ayrshire.
The Prince of Wales, known as the Duke of Rothesay while in Scotland, during a visit to the Spring Festival of Farming at Dumfries House in Ayrshire.
The Prince of Wales, known as the Duke of Rothesay while in Scotland, views a police tractor during a visit to the Spring Festival of Farming at Dumfries House in Ayrshire.
The Prince of Wales, known as the Duke of Rothesay while in Scotland, during a visit to the Spring Festival of Farming at Dumfries House in Ayrshire.
The Prince of Wales, known as the Duke of Rothesay while in Scotland, during a visit to the Spring Festival of Farming at Dumfries House in Ayrshire.
Prince Charles of Wales attends the opening of the restored tower of the Eusebius Church within the commemorations of the Operation Market Garden's 75th anniversary in Arnhem, The Netherlands. (Photo by DPPA/Sipa USA)
Prince Charles sits in the cockpit of a replication slider and poses with during his visit to the Airborne Museum Hartenstein in Oosterbeek. (Photo by DPPA/Sipa USA)
Prince Charles of Wales attends the opening of the restored tower of the Eusebius Church within the commemorations of the Operation Market Garden's 75th anniversary in Arnhem, The Netherlands. (Photo by DPPA/Sipa USA)
Prince Charles of Wales and Princess Beatrix of the Netherlands during a paradropping on the Ginkel Heath during the commemorations of the Operation Market Garden 75th anniversary in Ede, The Netherlands. (Photo by DPPA/Sipa USA)
Prince Charles talks to a Parachute Regiment veteran attending the Ginkel Heath commemorations as part of the Operation Market Garden 75th anniversary commemorations near Arnhem, Netherlands. (Photo by Arthur Edwards/PA Images via Getty Images)
FLORENCE, ITALY - APRIL 03: Prince Charles, Prince of Wales and Camilla, Duchess of Cornwall attend an event for the Italian Wool Industry and the Prince of Wales's Campaign for Wool at Palazzo Pitti, on April 3, 2017 in Florence, Italy. Their Royal Highnesses will be introduced to representatives from Woolmark and the Campaign for Wool, view product demonstrations, learn about innovative wool techniques and be given a tour of the palace's Art Gallery. The Prince of Wales launched the Campaign for Wool in January 2010 as an initiative to expand the market for British and Commonwealth wool and promote awareness of its environmental benefits. (Photo by Chris Jackson/Getty Images)
LONDON, UNITED KINGDOM - SEPTEMBER 20: Prince Charles, Prince of Wales and Camilla, Duchess of Cornwall meet musicians and dancers due to perform at Sunday September 23rd's West Croydon Carnival of Cultures, on September 20, 2012 in Croydon, Greater London, England. The Prince of Wales and Duchess of Cornwall met local residents, shopkeepers, faith leaders and community leaders at Croydon Voluntary Action (CVA) to discuss progress made by members of the community a year on from the August 2011 riots which took place the vicinity. (Photo by Jon Bond - WPA Pool/Getty Images)
HAYWARDS HEATH, ENGLAND - JULY 10: Prince Charles, Prince of Wales walks in the Coronation Meadows, an initiative he launched in 2012 to mark the 60th anniversary of The Queens Coronation during an official visit at Millenium Seed Bank on July 10, 2019 in Haywards Heath, England. (Photo by Mark Cuthbert/UK Press via Getty Images)
MUMBAI, INDIA NOVEMBER 11, 2013: Prince Charles talk with the school children during his visit at the Haji Ali Dargah, Mahalaxmi in Mumbai, India. (Photo by Mahendra Parikh/Hindustan Times via Getty Images)
POUNDBURY, DORSET - NOVEMBER 23: (EDITORS NOTE: Retransmission of image #498446830 with alternate crop.) Prince Charles, Prince of Wales decorates chocolates during an official visit to 'The House of Dorchester' chocolate factory on November 23, 2015 in Poundbury, Dorset. 'The House of Dorchester' was established in 1963 and was purchased by 'Charbonnel et Walker' in 2014. (Photo by Eamonn M. McCormack - WPA Pool/Getty Images)
Britain's Prince Charles, Prince of Wales (L) tours Appleby-in-Westmorland in north-west England on April 11, 2017, to witness the town's recovery from the floods of 2015. / AFP PHOTO / POOL / Owen Humphreys (Photo credit should read OWEN HUMPHREYS/AFP/Getty Images)
FLORENCE, ITALY - APRIL 03: Prince Charles, Prince of Wales and Camilla, Duchess of Cornwall visit Sant'Ambrogio Market to celebrate the Slow Food movement and meet local food producers of the Abruzzo region and areas affected by the earthquakes of 2016, on April 3, 2017 in Florence, Italy. Slow Food is a global, grassroots organization, founded in 1989 by Carlo Petrini to prevent the disappearance of local food cultures and traditions and to counteract the rise of the fast food culture. It is an international movement involving millions of people in over 160 countries. (Photo by Chris Jackson/Getty Images)
ATHENS, GREECE - MAY 10: Prince Charles, Prince of Wales visits HMC Valiant during a visit to Piraeus Harbour on May 10, 2018 in Athens, Greece. The Prince visited HMC Valiant, a coastal cutter which forms part of Border Force's Maritime Command and has previously rescued hundreds of men, women and children in the Easter Aegean since January 2017. His Royal Highness was introduced to the ship's commander, Richard Davies, and undertook a tour of the ship to meet the crew and learn more about the Valiant's rescue efforts. His Royal Highness also signed the ship's official visitor's book and presented a plaque, which recognises Valiant's contribution to humanitarian efforts.  Prince Charles, Prince of Wales and Camilla, Duchess of Cornwall were on a two day Royal tour to France which is now followed by a three day visit to Greece. (Photo by Chris Jackson/Getty Images)
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In the Duchy's annual report published on Thursday, Alastair Martin, the secretary and keeper of the records, predicted a drop income for Charles next year.

"The lockdown resulting from Covid-19 was only in place for one week of the financial year that this report covers," he said.

Charles and Camilla
The Prince of Wales and Duchess of Cornwall on the Scilly Isles, which have been part of the Duchy since the 14th century (Ben Birchall/PA)

"There is therefore very limited financial impact on these results.

"As to 2020-21, it is too early in the new financial year to be able to say with any confidence what the impact on our financial performance will be, but, despite having a particularly well-diversified asset base, we fully expect the revenue surplus to be down by a significant amount, in large part due to our trading enterprises being closed."

He added: "We have not availed ourselves of the various government pandemic support schemes but have continued to pay all staff."

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