Britain’s King Charles has revealed he will pay £12.9 million in tax in 2024-25. For the first time in modern history, a British monarch made his tax payments public. Prince William also reported paying £7.76 million in tax over the same period.
London: Britain’s King Charles III has created a new record by making public his personal income tax liability (tax bill) for the first time in modern history. According to the royal family’s annual financial report, King Charles paid taxes worth £12.9 million (about Rs 140 crore) during the financial year 2024-25. With this he has become the first modern British monarch to voluntarily disclose his tax payments.
This revelation is being considered an important step towards increasing transparency and public accountability of the British monarchy. The royal palace (Buckingham Palace) says the initiative aims to create greater clarity and confidence among the public about the monarchy’s financial arrangements.
King Charles joins Britain’s biggest taxpayers
According to the annual report, the £12.9 million tax paid by King Charles puts him in the list of Britain’s top 100 biggest individual taxpayers. King Charles has consistently paid the highest income tax rate since taking over the throne in 2022. However, the report did not say how the tax was calculated or what their total taxable income was. Experts believe that the disclosure of such a huge tax amount shows that the British monarchy wants to make its financial activities more transparent than before.
Prince William also made his taxes public
The annual financial report also revealed that the Prince of Wales, Prince William, also paid income tax and capital gains tax of £7.76 million during 2024-25. This is the first time Prince William has also publicly disclosed his tax payments. Earlier, after becoming the heir to the throne, he had not made his tax information public. His private secretary, Ian Patrick, said Prince William pays tax at the highest tax rate on all his legitimate income and that his expenses are independently audited to ensure that no undue tax breaks are taken advantage of.
Where does the king’s income come from?
King Charles’s main income comes from the Duchy of Lancaster. It is a historic property portfolio, which includes agricultural land, commercial properties, investments and other real estate. The king received an income of approximately £ 25.2 million from this estate in the financial year 2025-26. Apart from this, his personal income also includes personal investments, savings, income from Balmoral Estate in Scotland and Sandringham Estate in England. However, detailed details of these private investments have not been made public.
Prince William’s source of income
Prince William’s income mainly comes from the Duchy of Cornwall. This vast heritage estate, spread over approximately 130,000 acres, is believed to be worth more than a billion pounds. The estate includes a number of agricultural and commercial assets, including London’s famous Oval cricket ground. With this income, Prince William bears his official responsibilities, office operations and family expenses.
King and Queen Camilla will remain in Clarence House
The annual report also clarified that King Charles and Queen Camilla will continue to reside at Clarence House for the time being and will not move permanently to Buckingham Palace. Buckingham Palace has been undergoing extensive renovations and modernization for several years, which is expected to be completed by the end of 2027.
There will be an increase in Sovereign Grant
According to the report, the Sovereign Grant received by the British royal family will increase to 99.9 million pounds per year from 2027-28. This public money is spent on the running of the monarchy, salaries of staff, official events, maintenance of palaces and official trips. Three years ago this amount was 51.8 million pounds. However, this amount was temporarily higher due to extensive renovations to Buckingham Palace over the years.
Where will the extra money be spent?
According to the royal administration, the increased amount will be used in several important projects. These include preserving historic buildings, strengthening the cyber security of the royal residences, developing eco-friendly energy systems and investing around £11 million to replace aging boilers at Windsor Castle. Royal Treasurer James Chalmers clarified that this additional funding is not an “open cheque”. He said each expenditure would be subject to independent audit, financial monitoring and as per government standards.
How much was spent on royal tours?
The annual report also shares details of the royal family’s foreign and domestic travels. The most expensive overseas trip was Prince William’s three-day visit to Saudi Arabia in February, which cost around £130,000. This follows a four-day state visit by King Charles and Queen Camilla to Italy in April 2025, which cost around £126,946.
Meanwhile, around £48,460 was spent on the use of the royal train during a visit to Lancaster in June 2025. According to the report, the Shahi Train will be removed from service by the year 2027 in order to reduce costs.
Helicopter trips also exposed
According to the financial report, members of the royal family took a total of 177 helicopter trips in the last one year, which cost approximately £733,063. These figures have also been made public in such detailed form for the first time, resulting in greater transparency regarding the official expenses of the royal family.
Dartmoor Prison’s income will go to the local community
The report also revealed that Prince William has decided not to include the approximately £1.5 million annual rent he receives from Dartmoor Prison in his income. This amount will now be spent on the development of the local community, especially Princetown and surrounding rural areas. It is noteworthy that Dartmoor Prison is closed from the year 2024 due to the detection of high quantity of radon gas.
New example of transparency
This annual report of the British monarchy is not just a document of financial data, but also signals a significant shift towards public accountability and transparency. For the first time, both the king and the heir to the throne have disclosed their tax payments in an attempt to send a message that the monarchy is also prioritizing financial transparency to maintain public trust.
Experts believe that regular disclosure of such information over the coming years will provide greater public confidence and clarity regarding the finances of the British Monarchy.
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