King Charles III of the United Kingdom has taken a historic step towards greater transparency in royal finances. He will become the first British monarch to publicly disclose his personal tax information.
The details are expected to be released in the coming days alongside the royal family’s annual financial report. For the 2024–2025 financial year, the disclosure will include taxes paid on income from the Duchy of Lancaster (his main source of revenue — approximately £26.8 million), personal investments, and private estates, including Sandringham and Balmoral.
British monarchs are exempt from mandatory income tax and certain other taxes. However, since 1993 they have paid them voluntarily. Charles III began publishing such information while he was still the Prince of Wales. Now, as King, he has gone further to increase the openness of the monarchy.
The decision comes amid growing public interest in the royal family’s finances and calls for greater transparency. According to estimates, the total amount of tax paid by Charles III since ascending the throne exceeds £30 million.
Experts view this move as an attempt to strengthen public trust in the institution of the monarchy in the modern era.