King Charles III and Prince William Publicly Disclose Tax Payments

Britain's King Charles III has publicly disclosed that he paid £12.9 million (approximately US$23.5 million) in taxes for the year 2024-25. He has become the first British monarch in modern history to make his tax details public.

According to the annual royal report and financial statement, Crown Prince William also paid £7.76 million in income tax and capital gains tax during the same period. The royal household stated that both voluntarily made their tax details public. This move is said to aim at increasing the financial transparency and accountability of the monarchy.

Since King Charles ascended the throne in 2022, he and Crown Prince William have jointly paid over £50 million in taxes to the British Revenue Department. However, detailed information on how the tax was calculated has not been released. King Charles is reported to have paid taxes at the highest tax rate.

King Charles's main income comes from the 'Duchy of Lancaster'. This property, which includes land, buildings, and investments, generated an income of £25.2 million in the financial year 2025-26. In addition, income from private investments, savings, and the Balmoral and Sandringham estates are also considered taxable.

Crown Prince William also pays taxes on income received from the 'Duchy of Cornwall'. Furthermore, he has announced that he will not accept the annual £1.5 million rent received from Dartmoor Prison and has directed that the amount be spent on the development of the local community.

Meanwhile, the royal family has decided to continue living at Clarence House in the coming days, rather than Buckingham Palace. The renovation of the palace, estimated to cost around £370 million, is expected to be completed next year. Officials believe this decision will help open Buckingham Palace more widely to the public and generate more income from tourists.

According to the report, the 'Sovereign Grant' for the royal family's public expenditure will increase to £99 million from the financial year 2027-28. This amount will be used for the preservation of historic buildings, strengthening cybersecurity, and transitioning to green energy.