King Charles has disclosed he paid £12.9m in tax for 2024-2025 - becoming the first monarch to reveal their tax bill.
The report indicates that king Charles has stated he paid £12.9m in tax for 2024-2025 – becoming the first monarch to reveal their tax bill.
It further notes that the level of tax paid by the King places him among the top 100 UK taxpayers.
The Prince of Wales declared he paid £7.76m tax over the same period, the figures in the annual royal report and accounts show.
It has also been indicated that the King and Queen Camilla will continue to live in Clarence House and not move into Buckingham Palace.
The accounts show the main source of annual public funding for the Royal Household, the Sovereign Grant, is rising to just under £100m for the year 2027-28.
The accounts also show the King paid £11.7m in tax for 2023-24, while Prince William paid £8.34m for the same period.
The publication of how much tax the King and Prince William voluntarily pay was a personal decision made by both men, according to their offices.
Buckingham Palace described the move as an effort to increase transparency and stated it aimed to “encourage wider understanding of our accountability.”
Since the King became monarch in 2022 and William, the Prince of Wales, the combined tax bill of father and son paid to HM Revenue and Customs has exceeded £50m.
The new figures do not give any detailed breakdown of how the tax has been calculated.
The King receives an annual income from his Duchy of Lancaster estate set up to give the monarch an independent source of money for official and private expenditure.
It is a portfolio of land, investments and properties. It provides the King with an annual income which in 2025-26 was £25.2m.
Other sources of income, liable for tax, include the King’s own investments and savings alongside money generated by his private estates, Balmoral and Sandringham.
Initially, the Prince William did not release his tax payments when he became heir to the throne – but in line with his father, he has now made his payment of income and capital gains tax public.
