Sir Paul McCartney was made a Companion of Honour in a ceremony at Buckingham Palace on Friday.

The musician and songwriter, 75, was handed the award for services to music, 20 years after he was knighted by the Queen.

The Beatles legend was joined by his glamorous wife Nancy Shevell, 58, as he received the honour.

Honoured: Sir Paul McCartney was joined by wife Nancy Shevell as he was made a Companion of Honour for services to music in a ceremony at Buckingham Palace on Friday

Posing outside the palace, Sir Paul looked in high spirits, beaming broadly whilst dressed for the occasion in a tailored navy double-breasted suit, custom made by his fashion designer daughter Stella McCartney, 46.

Nancy looked phenomenal on the outing in a navy double breasted coat that complemented her pillarbox hat.

She finished off the look with velvet heels and accessorised with a black clutch bag.

Paying tribute to his late parents, Sir Paul said in a written statement: 'I see this as a huge honour for me and my family and I think of how proud my Liverpool mum and dad would have been to see this.'

Proud: The singer, 75, was joined by wife Nancy Shevell at the palace where he was given the award for services to music, 20 years after he was knighted by the Queen

Pleased: Speaking about the accolade, Sir Paul said: 'I’m very happy about this huge honour, and with the news coming on my birthday weekend and Father’s Day, it makes it colossal!'

Changing his name: The honour means that Sir Paul McCartney, Kt, MBE will now also include the initials CH after his name

Speaking about the accolade after it was revealed on the honours list, Sir Paul revealed: 'I’m very happy about this huge honour, and with the news coming on my birthday weekend and Father’s Day, it makes it colossal!'

The honour means that Sir Paul McCartney, Kt, MBE will now also include the initials CH after his name.

The musician's fashion designer daughter, Stella, paid tribute to her talented father via her Instagram page on Friday.

She wrote: 'Dad, a proud daughter on every level. What you have achieved as a creative soul on this earth has inspired so many millions and touches your baby girls heart with love and hope.

'Love is all you need and you got it from all your family today as you receive this incredible honour.

Loving it: Sir Paul looked in high spirits as he flashed a thumbs up outside the palace

Glamorous: Nancy looked phenomenal on the outing in a navy double breasted coat that complemented her pillarbox hat

Family values: Sir Paul wore a double-breasted suit custom made by his fashion designer daughter Stella McCartney, 46, who told of her 'pride' via her Instagram page

All about the accessories: She finished off the look with velvet heels and accessorised with a black clutch bag

Dapper: Posing outside the palace, Sir Paul looked in good spirits, beaming broadly whilst dressed for the occasion in a tailored navy suit

'I raise a glass to you and your parents for bringing you into this world and making it a better place... I love you so much.'

In a cheeky plug for her fashion brand, she added: 'Thanks for wearing your favourite designer too! A bit of bespoke @StellaMenswear never fails at the palace! x Stella.'

The Order of the Companions Honour was founded in 1917, and is awarded for service of conspicuous national importance.

The order consists of the Sovereign and a maximum of 65 members. Commonwealth citizens from outside the realm and people from foreign countries may be added as honorary members.

Membership comes with no title or precedence, but those inducted into the single-class order are entitled to use the post-nominal letters CH.

What a day: The star's photographer daughter Mary, 48, posted a sweet snap of Sir Paul and Nancy during their day out at the palace on her Instagram page

'Love is all you need': Stella paid tribute to her talented father in a gushing Instagram post

Incredible honour: Dancer Darcey Bussell was made a Dame Commander of the British Empire

Beaming: The Strictly Come Dancing judge looked overjoyed at being bestowed the honour as she laughed with Her Majesty

There are currently 62 members including Sir Paul, notably Dame Maggie Smith, Lord Coe, Stephen Hawking, John Major and Desmond Tutu, while Winston Churchill was previously a holder of the title.

WHAT IS THE ORDER OF THE COMPANIONS HONOUR? The Companion of Honour is a special award held by only 65 people at any one time and recognises services of national importance It is granted to people who have made a major contribution to the arts, science, medicine, or government It was established in 1917 by George V Non-British nationals can be honorary members of the Order, but will count as additional to the main 65. There are currently 62 members including Sir Paul Advertisement

Other recipients of the honour in the 2017 list were Sir Terence Conran, Sir Mark Elder, Dame Beryl Grey, Lord Stern of Brentford, JK Rowling, Dame Steve Shirley, Delia Smith and Sir John Sulston.

Sir Paul gained worldwide fame as the bass guitarist and singer for the Beatles alongside John Lennon, George Harrison and Ringo Starr.

In 1965, all four members of the Beatles were awarded an MBE at Buckingham Palace.

Following this, Sir Paul was knighted in 1997 and Ringo also received the honour last month, 21 years after his bandmate.

George declined the chance to receive an OBE in the New Year Honours List of 2000, reportedly finding the offer 'insensitive' given Paul's knighthood. He died of cancer the following year.

The final member of the group, John, received his MBE as a member of the Beatles but did not have the chance to be offered any more accolades as he was shot and killed in 1980.