Prince Harry didn’t lie about being financially cut off by Prince Charles

• Prince Charles gave the Sussexes money as they stepped back as senior members of the royal family.
• Some suggest the financial support contradicts Harry's statement that he was "cut off."
• But Charles stopped giving the Sussexes money in the summer of 2020, confirming Harry's statement.
• Visit Insider's homepage for more stories.

Buckingham Palace released its annual financial report for 2020-2021 on Thursday.

The report details all of the royal family's financial activities under the Sovereign Grant, including how much money the monarchy used as income supplementation.

Amid the release of the report, Clarence House released a statement regarding its financial support of Prince Harry and Meghan Markle as they stepped back from the royal family.

"As we'll all remember in January 2020 when the duke and duchess announced that they were going to move away from the working Royal Family, the duke said that they would work towards becoming financially independent," a Clarence House spokesperson said, as reported by Sky News.

"The Prince of Wales allocated a substantial sum to support them with this transition," the spokesperson went on to say, adding that the financial support ended in the summer of 2020.

Some outlets suggested that the statement from Clarence House contradicted Harry and Markle's interview with Oprah Winfrey, during which the duke said his family "literally cut me off financially" after they stepped back.

But a spokesperson for Harry and Markle said "it's inaccurate to suggest that there's a contradiction" in Harry and Charles' stories in a statement to Insider, as Harry was referring to the beginning of the fiscal year in the interview.

"The Duke's comments during the Oprah interview were in reference to the first quarter of the fiscal reporting period in the UK, which starts annually in April," the spokesperson said.

"This is the same date that the 'transitional year' of the Sandringham agreement began and is aligned with the timeline that Clarence House referenced," the spokesperson went on to say.

Because the financial quarter starts at the beginning of summer, Harry's and Charles' accounts of the end of their financial relationship do match up.

In addition, the royal family's financial report confirmed that Harry and Markle paid a "lump sum" of $3.3 million to reimburse the Sovereign Grant for renovations made to Frogmore Cottage, where they lived before they stepped back from the royal family.