Buckingham Palace has confirmed that King Charles III will disclose his personal tax bill this week in a move the palace says is intended to boost transparency as royal finances face growing public scrutiny in Britain. A palace spokesperson told AFP the decision “to do so as Sovereign has come at the express wish of the King himself,” adding the step is part of “the adaptations carried across” since Charles became monarch in 2022. The tax information is due to be published on Thursday alongside the annual royal financial accounts, the BBC reported.
By law British monarchs are exempt from income, capital gains and inheritance taxes, though sovereigns have voluntarily paid income and capital gains taxes since 1993. Charles began releasing personal tax details while he was heir apparent and, the palace says, will be the first reigning monarch to make such a disclosure. “Our aim is to explain all elements of royal finances in a way that further enhances clarity and accessibility, while also placing it in its historical and constitutional context,” the palace statement said. “To put it simply: we continue to modernise and evolve.”
The head of the monarchy receives money from several sources. The publicly funded Sovereign Grant — which covers the costs of official duties by working royals — rose sharply to £132.1 million for 2025–26 from £86.3 million the previous year. Separately, Charles drew £26.8 million in private income from the Duchy of Lancaster in 2024–25. The duchy is a long-established portfolio of land, property and investments that funds personal expenses and some official duties; the Prince of Wales benefits from a comparable Duchy of Cornwall arrangement.
Republic, an anti-monarchy campaign group, said independent authorities should audit and publish royal tax and income details, arguing Charles’s voluntary disclosure “leaves many unanswered questions.” Republic’s head Graham Smith warned, “The royals can’t be allowed to self-declare their tax… They’ll spin this as Charles being a huge tax payer, but the question is why is his income so high?”
The disclosures come after damaging revelations about Prince Andrew and questions over residential property arrangements provided to royals. Parliament’s Public Accounts Committee has launched an inquiry into those housing arrangements. The forthcoming tax figures are expected to shed light on other private income streams — from investments, trading profits or inherited estates such as Balmoral and Sandringham, which were exempt from inheritance tax under earlier government agreements — as the royal household seeks to repair its public image.
Original Source: https://www.ndtv.com/world-news/king-charles-to-release-personal-tax-bill-first-british-monarch-to-do-so-11667677#publisher=newsstand
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Publish Date: 2026-06-21 20:06:00
