King Charles and Prince William have made a historic financial disclosure. For the first time, both royals have publicly revealed how much tax they paid. The move marks a major shift toward greater transparency around royal finances. It also comes amid growing calls for more accountability over public funding for the monarchy.
The King and Prince William publicly disclosed their taxes
King Charles has become the first British monarch to disclose his personal tax payments publicly. According to the Royal Family’s latest annual financial report, the King paid £12.9 million in tax during the 2024-25 financial year. Prince William also chose to release his figures, revealing he paid £7.76 million in income and capital gains tax over the same period (via BBC).
The disclosure marks a notable change for the monarchy. While members of the Royal Family have long paid tax voluntarily, the exact amounts had not previously been made public. As Buckingham Palace notes, publishing the figures is intended to “encourage wider understanding of our accountability.” The decision also follows increasing public scrutiny over how royal finances are managed and funded.
In addition, the annual report revealed that Charles paid £11.7 million in tax the previous year, while William paid £8.34 million. Since Charles became King in 2022 and William inherited the Duchy of Cornwall, the pair have together paid more than £50 million to HM Revenue and Customs. Even so, the disclosure does not provide an in-depth assessment of how the King’s tax bill was calculated.
Tax expert Dan Neidle shared with BBC Radio 4’s Today program that the figures remain “highly opaque.” He noted that it is unclear how much is related to income tax, capital gains tax, or allowable deductions.
With that said, the financial account included another major update. King Charles and Queen Camilla will remain at Clarence House rather than move into Buckingham Palace after its refurbishment. Officials said the decision would allow more public access to the palace.
Further, the BBC’s report also confirmed that the Sovereign Grant will increase to £99.9 million annually from 2027-28 to support the upkeep of royal buildings, cybersecurity improvements, and green energy projects.
Originally reported by Zahrah Patel on Reality Tea.
