The amount of money given by the taxpayer to the Queen for official duties and other costs rose by 13% to £45.7m in the financial year to spring 2018.
Part of the increase in the Sovereign Grant was to meet the cost of renovations at Buckingham Palace, which are expected to take up to ten years.
Her Majesty's total expenditure rose from £41.9m to £47.4m for the year 2017/18 of which £22.6m went on property maintenance.
Travel was another major cost for the royal household, rising to £4.7m, the most expensive single trip being £362,149 for the Prince of Wales and Duchess of Cornwall to visit India, Malaysia, Brunei and Singapore between 29 October and 11 November last year.
Sir Michael Stevens, the new keeper of the Privy Purse, who oversees the monarch's finances, said: "There are three generations of the Royal Family at work together in support of the Queen.
"Each generation brings its own style and personality. What everyone shares is a desire for the monarchy to reflect and serve all parts of our country and the wider Commonwealth."
A budget of £369m has been set for the refurbishment of Buckingham Palace, including the replacement of the decades-old wiring system.
Part of that cost is being met by an increase in the percentage of the Crown Estate profits paid to the Sovereign Grant.
The Crown Estate is a collection of land and property nominally owned by the Queen, but in fact independently managed with the cash going to the treasury rather than the monarch.
In the 2017/18 tax year it benefited the public purse to the tune of £329.4m, an increase of four percent on the previous year.
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