Probe into U.K. royals' private estates sparks calls for reform

Calls for transparency and reform of Britain's royal family's private estates amid allegations of profiting from public bodies.

Britain's royal family is facing calls for more transparency and reform of their private estates after an investigation alleged they have been profiting from public bodies while benefiting from major tax exemptions.

The U.K. media probe also accused the estates of King Charles III and his eldest son Prince William of making big profits from charities and individual renters while in some cases failing to meet environmental standards.

The centuries-old estates - the Duchies of Lancaster and Cornwall - have made millions of pounds (dollars) from lucrative deals with the publicly-funded National Health Service (NHS) and other cash-strapped ministries, according to the investigation.

Both estates - portfolios of land, property and assets across England and Wales held in trust for the king and his heir - are exempt from paying UK corporation or capital gains taxes.

The extent of their holdings and commercial deals, such as lease agreements, is not publicly disclosed.

But the probe by U.K. television network Channel 4's Dispatches programme and The Sunday Times claims to have uncovered them for the first time.

It has prompted calls for a review by parliament as well as demands by pro-republicans for the duchies to be abolished.