Britain’s King Charles III has disclosed that he has paid more than £30 million in personal taxes since ascending the throne in September 2022, marking the first time a reigning British monarch has made such information public.
According to AFP, the disclosure was announced by Buckingham Palace as part of a broader effort to increase transparency over royal finances amid growing public scrutiny.
The palace said the King’s personal tax bill totalled £24.6 million across the two full tax years following his accession. This included £11.7 million for the 2023-24 tax year and £12.9 million for 2024-25. No figure was provided for the partial 2022-23 tax year, though the palace confirmed the total paid since becoming monarch exceeds £30 million.
Prince William also released his tax information for the first time since inheriting the title of Prince of Wales. The heir to the throne paid more than £20 million in income and capital gains tax, including £8.34 million in 2023-24 and £7.76 million in 2024-25.
Although British monarchs are legally exempt from paying income, capital gains and inheritance taxes, members of the royal family have voluntarily paid income and capital gains taxes since 1993 following public pressure for greater financial accountability.
Unlike his late mother, Queen Elizabeth II, Charles has continued the practice of publishing his personal tax information after becoming king. He had previously disclosed his tax payments while serving as heir to the throne.
The palace also announced that the Sovereign Grant, which funds official royal duties, will be set at £99.9 million annually from 2027-28. Before then, it will rise to £137.9 million in 2026-27 to complete the £370 million refurbishment of Buckingham Palace and address maintenance, energy efficiency upgrades and cyber security improvements.
Buckingham Palace further confirmed that King Charles and Queen Camilla will continue living at Clarence House after the renovation is completed, with Buckingham Palace remaining the ceremonial headquarters of the monarchy and a heritage site with expanded public access.
Separately, the Crown Estate reported that its operating profits fell from £1.4 billion to £1.2 billion in the year to March, mainly because of lower offshore wind-related revenues during the construction phase of several projects.
