Britain’s monarch has, for the first time in history, had his personal tax contribution publicly disclosed, revealing a multimillion-pound payment that places him among the country’s highest taxpayers.
King Charles III’s tax bill for the 2024–2025 financial year stands at £12.9 million, marking an increase from £11.7 million recorded in the previous year. The figures have drawn attention as they offer an unusual level of financial transparency from the Royal Household.
While there is no legal obligation for a monarch to pay income or capital gains tax, the practice has been followed voluntarily since the early 1990s, when the late Queen Elizabeth II chose to begin making contributions on her private income. Since ascending the throne, King Charles has reportedly contributed more than £30 million in voluntary tax payments.
The disclosure places the King in a similar tax bracket to high-earning public figures, with comparisons made to professional boxer Anthony Joshua, who is estimated to have paid around £11 million in tax based on the latest available figures.
Attention has also turned to the Prince of Wales, who has similarly revealed his tax contributions linked to the Duchy of Cornwall estate. Prince William paid £7.76 million in income and capital gains tax in 2024–2025, a slight decrease from the previous year’s £8.34 million, with total payments since becoming heir to the throne exceeding £20 million.
Beyond personal taxation, changes to royal finances have also been announced, with the Sovereign Grant expected to rise significantly in the coming years. The funding used for official royal duties and palace upkeep is projected to increase to nearly £100 million annually by 2027–2028, driven by a revised calculation method agreed by senior government figures and royal trustees.
The increase is intended to support major maintenance work across royal properties and strengthen cybersecurity systems, amid growing operational demands on the monarchy’s official functions.
