King Charles III has turn into the primary reigning monarch to disclose his personal tax bill, a move that comes amid a broader shift in how the British royal family manages and discloses its funds.
In keeping with an official release by the Privy Purse, for the 2024-2025 tax yr, Charles paid £12.9 million (CAD $24.19 million), placing him among the many 100 highest taxpayers within the U.K., the BBC reported.
The King only pays taxes on his personal income, which is generated from his privately owned estates, Balmoral in Scotland and Sandringham on the east coast of England. Charles also paid capital gains taxes related to the sale of assets.
Prince William also revealed he paid £7.76 million (CAD $14.55 million) over the identical period, the Associated Press reported.
In an announcement accompanying the disclosure, the Keeper of the Privy Purse, James Chalmers, said, “On this and each aspect of his duty, His Majesty is guided by a singular purpose — to serve with constancy, devotion and unwavering resolve.”
“So, while much changes, our central principles remain: to deliver value for money and to support the Royal Family as they seek to assist shape a greater world, here in the UK, across the Commonwealth and beyond. A future by which tradition and modernity work hand-in-hand for the good thing about all,” he continued.
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The discharge of the King’s personal tax bill included news that he and his wife, Queen Camilla, wouldn’t live at Buckingham Palace upon the completion of a 10-year, £369-million (USD $487 million) refurbishment, which the family says is a component of a plan to extend public access to a constructing that has been a ceremonial pillar of the monarchy for nearly two centuries.
About 700,000 people visit Buckingham Palace yearly, in accordance with Chalmers, with its 775 rooms — a number of that are open to the general public — providing all the things from office space to lavish dining rooms in addition to private apartments restricted to royal use.
The present renovations began in 2017 and included an overhaul of outdated plumbing, wiring, and heating systems, in addition to an upgrade to the constructing so it could proceed to accommodate future monarchs.
King Charles and Queen Camilla have never lived together at Buckingham Palace, but it surely has been home to his predecessors and served because the institution’s administrative headquarters because the 1830s, when Queen Victoria designated it because the family’s principal seat.
Since 2003, their primary residence has been Clarence House, situated about half a mile from the palace on the identical Central London street.
Members of the Royal Family on the balcony of Buckingham Palace, London, to view the flypast following the Trooping the Color ceremony in central London, as King Charles III celebrates his official birthday. Saturday, June 13, 2026.
PA Photo.Aaron Chown/PA Wire
Royal officials stressed that the King and Queen Camilla would proceed to work out of the palace, which they said would remain “the ceremonial and operational center” of the monarchy.
“It’s and can remain Monarchy HQ, the crown jewel of our national buildings,” Chalmers said.
King Charles was under no obligation to publish his tax affairs, which, like those of any citizen, are strictly confidential. His decision to relinquish that right to privacy is available in the wake of dominating headlines over former Prince Andrew‘s alleged links to convicted sex offender Jeffrey Epstein.
It also underscores the concept that the monarchy is a public institution and its workings ought to be public, Craig Prescott, an authority on constitutional law and the monarchy at Royal Holloway, University of London, told the Associated Press.
“In the event that they’re open and as transparent as possible, then the contrast with Andrew Mountbatten-Windsor becomes all of the greater,” he added.
Meanwhile, Prince William, who’s first in line to the throne and entitled to income generated through the Duchy of Cornwall — a 130,000-acre estate arrange within the 1300s to supply funds to the Prince of Wales — has recently moved to unload a 600-acre farm on the property, with the duchy telling Global News it was within the means of “aligning and rebalancing our portfolio in order that our places and assets deliver the best possible social and environmental impact.”
On Thursday, British media reported that Prince William would not pocket £1.5 million in annual income from rent charged on the now-defunct Dartmoor prison, which is on Duchy of Cornwall land, and that the cash can be redistributed to support community regeneration projects.
–with files from the Associated Press
© 2026 Global News, a division of Corus Entertainment Inc.