According to a Buckingham Palace announcement to the British press, King Charles III will announce his personal tax bill to increase transparency, in the context that royal finances are increasingly being closely monitored by the public.
Under British law, kings are exempt from certain taxes, although for decades they have voluntarily paid some taxes. The British King is not obliged to disclose his tax bills, but recent scandals surrounding former Prince Andrew have made the royal family's financial issues the focus of attention.
King Charles will become the first monarch to publicly disclose personal tax information. A spokesman for the Buckingham Palace told the media that this decision stemmed from the king's own wishes, as part of the changes made since he ascended the throne. The spokesman said the goal is to explain all aspects of royal finance in a way that helps enhance clarity and accessibility, while placing this issue in a historical and constitutional context. The spokesman emphasized simply that the royal family continues to modernize and develop.
King Charles' tax information will be announced on June 25 as part of the royal family's annual financial report. Since 1993, starting from the time of the late Queen Elizabeth II, monarchs have voluntarily paid two types of taxes. Before ascending the throne in 2022, Charles, when he was Crown Prince of Wales, also publicly announced the amount of tax he had paid.
The British Treasury allocates an annual payment called the Royal Grant to pay for official activities of the royal family. The monarch's personal income includes the historic Duchy of Lancaster estate, a diverse portfolio of land, real estate and investments. In the period 2024 - 2025, the Duchy of Lancaster estate brought the king an annual income of £26.8 million, equivalent to $35.6 million.
