According to the latest Sovereign Grant financial report, King Charles paid £12.9 million in taxes during the 2024–2025 financial year, placing him among the top 100 taxpayers in the United Kingdom for that period.
Since ascending to the throne in September 2022, the King has paid more than £30 million in taxes. He contributed £11.7 million during the 2023–2024 financial year. Although the British monarch is not legally required to pay certain taxes, Charles continues to do so voluntarily under a long-standing arrangement.
The King’s tax payments are based on his private income, including earnings from investments, business interests, and personal assets. He also receives income from the Duchy of Lancaster, a private estate comprising farmland, commercial properties, offices, and investment holdings. The estate generated £25.2 million for the King during the 2025–2026 financial year.
The voluntary tax arrangement was introduced in 1993 during the reign of Queen Elizabeth II. Under the agreement, the monarch voluntarily pays income tax, capital gains tax, and inheritance tax in certain circumstances, despite being exempt from some tax obligations under UK law.
Prince William has also disclosed details of his tax payments. Since becoming Prince of Wales, he has paid more than £20 million in taxes. During the 2024–2025 financial year, he paid £7.76 million, compared with £8.34 million in 2023–2024.
William’s income comes primarily from the Duchy of Cornwall, the hereditary estate traditionally granted to the heir to the British throne. The estate generated £21.6 million for him during the 2025–2026 financial year.
The disclosures are being viewed as part of a broader effort by the Royal Household to strengthen public accountability and improve transparency regarding the finances of the British monarchy.
