The United Kingdom has a monarchy in charge. In the end the Queen forms the Government. We have our General Elections to select our MPs and then at the end the Queen calls upon the leader of the party with a majority to form her Government.
As for advantages, the Royal family brings in many millions of pounds in terms of tourism to the UK. I also believe it's correct to maintain the tradition of a monarchy which has been in this country for near enough a millenium with William I starting the trend. It might just be me but I'm proud to have the Queen's face looking at me on a bank note and a stamp.
So for the "small" cost to the taxpayer (I think it is something around £1 per head per year) to keep them as our head of state you get many more benefits.
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