King Charles reveals he paid £12.9m in tax for 2024-25

Here is the latest breaking news from around the world: King Charles reveals he paid £12. 9m in tax for 2024-25Image source, Getty ImagesImage caption, The King is the first British monarch to reveal their tax bill in modern timesByDaniela RelphSenior royal correspondentPublished12 minutes agoKing Charles has disclosed he paid £12. 9m in tax for 2024-2025 - becoming the first monarch to reveal their tax bill.

The level of tax paid by the King puts him in the top 100 of UK taxpayers. The Prince of Wales declared he paid £7. 76m tax over the same period, the figures in the annual royal report and accounts show.

The Details

It has also been revealed the King and Queen Camilla will continue to live in Clarence House and not move into Buckingham Palace. The accounts show the main source of funding for the Royal Household, the Sovereign Grant, is rising to just under £100m for the year 2027-28. Image source, Getty ImagesImage caption, The Prince of Wales declared he paid £7.

76m in income and capital gains tax between 2024-2025The accounts also show the King paid £11. 7m in tax for 2023-24, while Prince William paid £8. 34m for the same period.

The publication of how much tax the King and Prince William voluntarily pay was a personal decision made by both men, according to their offices. Buckingham Palace described the move as increasing transparency and aimed to "encourage wider understanding of our accountability. "Since the King became monarch and William the Prince of Wales, the combined tax bill of father and son paid to HM Revenue and Customs has been more than £50m.

What Experts Say

The new figures do not give any detailed breakdown of how the tax has been calculated. The King receives an annual income from his Duchy of Lancaster estate set up to give the monarch an independent source of money for official and private expenditure. It is a portfolio of land, investments and properties.

It provides the King with an annual income which in 2025-26 was £25. Other sources of income, liable for tax, include the King's own investments and savings alongside money generated by his private estates, Balmoral and Sandringham. Initially, the Prince William did not release his tax payments when he became heir to the throne - but in line with his father, he has now made his payment of income and capital gains tax public.

Prince William receives an income from the Duchy of Cornwall - a billion-pound 130,000 acre hereditary estate which also includes the Oval cricket ground in London - which funds official duties, his office and private family life. "Prince William pays income tax at the highest rate on any net surplus after those costs have been met. Those costs are independently audited to ensure that any deductions are appropriate," said the prince's private secretary Ian Patrick.

The story has become one of the most prominent items on the global agenda.