King Charles is the first British monarch to publicly disclose his personal tax payments, revealing a total of £12.9 million for the 2024-25 fiscal year

King Charles has revealed that he paid £12.9 million in tax, marking the first time a British monarch has publicly disclosed their tax bill.

King Charles III has made history as the first British monarch to openly share details of his personal tax contributions, disclosing that he paid £12.9 million in tax for the 2024-25 financial year.

The figures, published in the Royal Household’s annual report and accounts, indicate that William, Prince of Wales, contributed £7.76 million in income and capital gains tax during the same timeframe.

As stated by Buckingham Palace, the choice made by both the King and the Prince of Wales to voluntarily disclose their tax payments aimed to enhance transparency and “encourage wider understanding of our accountability.”

The accounts indicate that King Charles contributed £11.7 million in tax during the last financial year, whereas Prince William contributed £8.34 million. Since Charles ascended to the throne in 2022, the total tax contributions made by both father and son have surpassed £50 million.

However, the report lacks a comprehensive breakdown of the calculation of tax liabilities, including the specific amounts attributed to income tax, capital gains tax, or allowable deductions.

Dan Neidle, founder of Tax Policy Associates, characterized the disclosure as “highly opaque,” noting that it did not provide enough detail to evaluate how the figures were derived.

“We are uncertain about the proportions of capital gains tax versus income tax.” “It is crucial to note that we are unaware of the expenses he has deducted to arrive at the figure on which he pays taxes,” Neidle stated.

King Charles obtains revenue from the Duchy of Lancaster, which consists of a collection of land, investments, and properties that furnish the monarch with a self-sufficient means of financing both official duties and personal expenses. The estate generated £25.2 million in income during the 2025-26 financial year.

His taxable income encompasses earnings from private investments, savings, and his privately owned Balmoral and Sandringham estates.

Prince William, on the other hand, derives his income from the Duchy of Cornwall, a hereditary estate that covers approximately 130,000 acres and is valued at over £1 billion. The estate supports his official responsibilities, personal office, and family life.

His private secretary, Ian Patrick, stated that the prince pays income tax at the highest rate on any net surplus after legitimate business costs have been deducted.

“Those costs undergo independent audits to verify that all deductions are appropriate.” The prince acknowledges the significance of these arrangements and the necessity for suitable transparency,” Patrick stated.

The report indicated that Prince William will no longer personally receive the £1.5 million annual rental income generated by the now-closed Dartmoor Prison. Instead, the funds will be redirected to support the local community, especially the residents of Princetown near the prison.

Dartmoor Prison has been closed since 2024 due to the discovery of dangerous levels of radon gas within the facility.

The annual accounts revealed that King Charles and Queen Camilla will remain at Clarence House instead of moving to Buckingham Palace once the ongoing refurbishment works are finished. Officials announced that the decision would enhance public access to the historic palace.

The Sovereign Grant, which serves as the primary source of public funding for the Royal Household, is set to rise to £99.9 million per year starting from 2027-28, following a revised funding formula that has received approval from the Royal Trustees, including Prime Minister Keir Starmer and Chancellor Rachel Reeves.

The funding will aid in the upkeep of royal residences, enhance cybersecurity, and finance environmental improvements, including a £11 million initiative to replace boilers at Windsor Castle.

James Chalmers, the King’s Keeper of the Privy Purse, stated that the grant was “not a blank check” and continued to be subject to Treasury oversight, independent audits, and stringent value-for-money requirements.

The study also sindicatedthat Prince William’s three-day trip to Saudi Arabia, which cost just over £130,000, was the most expensive royal trip outside of Britain that year. It was just over £130,000 more than King Charles’s and Queen Camilla’s state visit to Italy, which cost £126,946.

Meanwhile, operating profits at the Crown Estate, which serves as the benchmark for calculating the Sovereign Grant, decreased from £1.4 billion to £1.2 billion. This decline was primarily attributed to lower revenues from offshore wind option fees as projects transitioned into the construction phase.