On the 25th, Buckingham Palace for the first time publicly released the King's personal tax information, confirming that since ascending the throne in September 2022, King Charles III has paid over £30 million (approximately RM162 million) in personal taxes, demonstrating the royal family's commitment to greater financial transparency.
According to Sing Tao Daily, this is the first time in British history that a reigning monarch has disclosed individual tax details to the public. Buckingham Palace issued a statement saying that this groundbreaking move is part of the royal family's pledge to enhance financial transparency. In recent years, public scrutiny and opinion pressure concerning the royal family's finances have increased, prompting the royals to adopt a more open attitude.
Among the UK’s Top 100 Taxpayers
The statement emphasized that this is the amount of tax owed since the king’s accession, reflecting his approach to fulfilling tax obligations just like any ordinary citizen.
In the 2024-2025 fiscal year, Charles III paid £12.9 million in taxes, placing him among the UK's top 100 taxpayers; in the 2023-2024 fiscal year, he paid £11.7 million in taxes.
Charles receives annual income from his Duchy of Lancaster estate, which was established to provide an independent source of funding for the monarch to cover both official and private expenses. The estate is a portfolio comprising land, investments, and property. It provides the king with annual income, which will be £25.2 million for the 2025-2026 fiscal year. Other taxable income sources include the king's own investments and savings, as well as income from his private estates at Balmoral and Sandringham.
Prince William Paid Over £200 Million in Taxes
In addition to Charles III, the first in line to the throne, his eldest son Prince William, also disclosed his personal tax information for the first time. Since his father took the throne and he succeeded as Prince of Wales, he has paid over £20 million in personal taxes.