King Charles to reveal personal tax bill for first time as monarch
The palace said the move will set a new precedent, with the King’s 2024-25 tax details due later this week and 2025-26 figures next year.
- Later this week, King Charles III will publish his personal tax bill for the 2024-25 financial year, becoming the first head of state to disclose such private records aimed at improving "clarity and accessibility" around royal finances.
- Charles voluntarily pays income and capital gains tax on private assets under the Memorandum of Understanding on Royal Taxation 2023, agreed with the Government to provide the monarch an independent income source historically known as the Privy Purse.
- Private income from The Duchy of Lancaster stood at £26.8 million for 2024-25, while the Sovereign Grant totaled £86.3 million last year, comprising £51.8 million for core costs and £34.5 million for the Buckingham Palace Reservicing Programme.
- Prince William does not publicly reveal his tax payments despite paying the highest rate of income tax after official costs are deducted from his income from the Duchy of Cornwall.
- A Buckingham Palace spokesperson said: "While this is the first time a monarch has shared this personal tax information, you may recall it was similarly released by His Majesty when he was Prince of Wales.
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King Charles will publish the sum of personal taxes. He will become the first British monarch of modern times to do so, as a new element in the annual financial accounts of the royal house, the decision being, according to sources at the Palace, a personal one of the king. Buckingham Palace states that this measure is part of a modernization process aimed at ensuring greater transparency and "encouraging a better understanding of our responsibil…
The sovereign introduces the disclosure of his taxes. 'He wants to modernize and democratize the corona'
King Charles III will be the first British monarch to make his personal tax return public in an attempt to improve the transparency of the Royal Family, Buckingham Palace announced. Royal finances are under an increasingly intense public magnifying glass.
King Charles to reveal personal tax bill, Buckingham Palace says
LONDON -- King Charles will reveal his personal tax bill in a bid to improve transparency, Buckingham Palace confirmed to AFP on Sunday, as royal finances come under increasing public scrutiny in Britain.
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