King Charles discloses £12.9 million tax payment, first UK monarch to do so

King Charles announced that he paid £12.9 million in taxes for the 2024‑25 fiscal year, making him the first British monarch to publicly disclose his tax contributions. The amount places him among the 100 highest taxpayers in the United Kingdom. His son, Prince William, Prince of Wales, also revealed a tax payment of £7.76 million for the same period. The royal accounts show that Charles paid £11.7 million in tax for 2023‑24 and William paid £8.34 million, while the sovereign grant – the main public funding for the royal household – is set to increase to just under £100 million for the 2027‑28 financial year. The family will continue to reside at Clarence House rather than moving to Buckingham Palace. Charles derives a private income from the Duchy of Lancaster, amounting to £25.2 million for the 2025‑26 year, and other earnings from personal investments and properties are also taxable. The palace described the disclosure as a step to boost transparency, though some tax experts said the details of how the tax was calculated were not fully clear.