King Charles to become first British monarch to publicly disclose personal tax bill as part of royal financial transparency drive
King Charles will publish his personal tax bill for the 2024-25 financial year, making him the first British monarch to do so. Buckingham Palace described the move as a personal decision by the King, aimed at increasing transparency and public understanding of royal finances. Charles voluntarily pays income tax and capital gains tax, though monarchs are not legally required to. His primary income source is the Duchy of Lancaster, which generated approximately £26.8-27.4 million in 2024-25. The disclosure will be released alongside a new royal financial report next week. When he was Prince of Wales, Charles had previously disclosed his tax payments. His son William, now Prince of Wales, has not disclosed his tax payments since inheriting that role.
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