The Army Benevolent Fund’s income fell by £25m last year after it received a legacy gift of the same amount in the previous 12 months, latest figures show.
The charity’s accounts for the year to the end of March 2026 reveal it recorded an income of £13.7m over the course of the year, down from £38.7m in 2024/25 when it received the £25m legacy donation.
Legacy income at the charity, which supports British soldiers, veterans and their families, was £2.5m last year, the accounts show, down from £28.2m in 2024/25.
But the charity’s other income streams increased by 6 per cent, earning £2.6m from investments, £1.8m in donations from army personnel and charities and £3.3m from other trading activities.
The charity recorded a total expenditure of £16.9m, up from £16m the year before.
Of this, £9.5m was spent on charitable activities, £2.6m on trading activities and £4.8m on other costs of raising funds.
It is the second year in a row that staff costs have risen, having spent £4.9m this year, up from £4.1m in 2023/4 and £4.3m in 2024/5.
It had an average of 90 staff over the course of the year, six more than in the previous 12 months.