Overview

This bill makes significant changes to the Duchy of Cornwall, the private estate of the Prince of Wales. Key changes include altering the succession to the title, removing certain immunities and exemptions, subjecting the Duchy to taxation, and ultimately transferring its assets to the Crown Estate upon the current Duke's death.

Description

The bill introduces several key changes:

• Succession to the Duchy: The title of Duke of Cornwall will pass to the eldest child of the monarch (heir to the throne), regardless of gender, altering the previous rule of only the eldest son inheriting.
• Removal of Crown Immunity: The Duchy will no longer benefit from the presumption of Crown immunity, meaning it will be subject to the same laws as other entities.
• Taxation: The Duchy will be subject to income tax and capital gains tax, treating it as settled property under existing tax legislation.
• Exemptions and Immunities Removed: Specific exemptions and immunities within the Leasehold Reform Act 1967 and the Leasehold Reform, Housing and Urban Development Act 1993 are removed, ending certain special privileges.
• Land Purchase Powers: The current Duke of Cornwall’s power to purchase land is expanded to encompass the entire United Kingdom, rather than just England.
• Legal Representation: The bill clarifies legal representation, preventing the Treasury Solicitor from advising or acting for the Duchy of Cornwall.
• Transfer to Crown Estate: Upon the death of the current Duke of Cornwall, the Duchy's assets, rights, duties, and obligations will be transferred to and managed by the Crown Estate under the Crown Estate Act 1961.

Government Spending

The bill is expected to increase government revenue through taxation of the Duchy of Cornwall's income and assets. Precise figures are not provided in the bill itself, but the impact will depend on the future profitability of the Duchy.

Groups Affected

• The Royal Family: The succession rules for the Duchy of Cornwall are altered, impacting the future Prince or Princess of Wales.
• The Duchy of Cornwall: The Duchy will lose its Crown immunity, face taxation, and eventually cease to exist as an independent entity.
• Tenants and Leaseholders: The removal of exemptions and immunities from the Duchy may affect their rights and obligations under existing legislation.
• The Crown Estate: The Crown Estate will gain significant assets and responsibilities upon the transfer of the Duchy of Cornwall.
• Taxpayers: Taxpayers will indirectly benefit from increased tax revenues generated from the Duchy.

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