King Charles Reveals £30m Paid in Personal Taxes Since Becoming Monarch

Britain's King Charles III has voluntarily paid more than £30 million in personal taxes since ascending the throne in September 2022, Buckingham Palace announced in an unprecedented disclosure aimed at increasing transparency over royal finances.

The announcement marks the first time a reigning British monarch has publicly revealed the amount of personal tax paid while on the throne, despite being legally exempt from certain taxes under UK law.

According to Buckingham Palace, the King paid £24.6 million in income and capital gains taxes over the two full tax years following his accession. The figure includes £11.7 million for the 2023-24 tax year and £12.9 million for 2024-25, while the amount paid for the period between his accession in September 2022 and the end of that tax year was not disclosed.

The palace said the move reflects the King's commitment to greater openness as public scrutiny of the monarchy's finances continues to grow.

King Charles had previously published details of his personal tax payments while serving as Prince of Wales. However, his late mother, Queen Elizabeth II, never released such information during her 70-year reign.

The disclosure also showed that Prince William has paid more than £20 million in income and capital gains taxes since becoming Prince of Wales following his father's accession to the throne. He paid £8.34 million in the 2023-24 tax year and £7.76 million in 2024-25.

Although British monarchs are exempt from paying income, capital gains and inheritance taxes, members of the Royal Family have voluntarily paid income and capital gains taxes since 1993 after public pressure over the monarchy's financial transparency.

The palace also provided updates on royal funding, revealing that the Sovereign Grant, the public funding used to support official royal duties will be set at £99.9 million for the 2027-28 financial year.

The grant will increase to £137.9 million in 2026-27 to complete the ongoing £370 million refurbishment of Buckingham Palace, as well as fund maintenance projects, improved energy systems and enhanced cyber security across royal residences.

Buckingham Palace also 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 open to greater public access.

Meanwhile, the Crown Estate reported that its operating profits declined from £1.4 billion to £1.2 billion in the year ending March 2026, largely due to lower offshore wind revenues as major projects entered the construction phase.

AFP