King Charles reveals he paid £12.9m in tax for 2024-25
BBC News 2026-06-25 21:00:53
Context: King Charles has disclosed that he paid £12.9m in tax for 2024-2025, becoming the first British monarch to reveal their tax bill in modern times. This move is part of an effort to increase transparency, with the King's office describing it as a way to "encourage wider understanding of our accountability." The tax payment puts the King in the top 100 of UK taxpayers.
Key Facts
- King Charles paid £12.9m in tax for 2024-2025, while Prince William, the Prince of Wales, paid £7.76m in income and capital gains tax over the same period.
- The King paid £11.7m in tax for 2023-24, and Prince William paid £8.34m for the same period, with their combined tax bill now exceeding £50m since King Charles became monarch and Prince William became Prince of Wales.
- The King's annual income includes £25.2m from the Duchy of Lancaster estate, as well as income from his own investments and savings, and money generated by his private estates, Balmoral and Sandringham.
- The Royal Household's Sovereign Grant is set to rise to £99.9m per year from 2027-2028, which will be used to cover costs such as staff, building upkeep, and official travel, with some of the funds earmarked for cyber security and green energy projects.
- The King and Queen Camilla will continue to reside in Clarence House, rather than moving into Buckingham Palace, with the decision made to allow greater public access to the palace, which is undergoing refurbishment work totaling just under £370m.