A First In Royal History: King Charles III To Reveal Tax Details. Here’s Why

Last Updated:June 21, 2026, 12:24 IST

The King's tax information will be made public on Thursday alongside the annual royal financial accounts, the BBC reported.

King Charles III is set to publicly disclose his personal tax bill in a move aimed at increasing transparency, Buckingham Palace told British media on Saturday. The decision comes amid growing scrutiny over royal finances.

According to a Buckingham Palace spokesperson, Charles will become the first British monarch to reveal details of his personal taxes.

“The decision to do so as Sovereign has come at the express wish of the King himself, as part of the adaptations carried across since accession," the spokesperson said.

“Our aim is to explain all elements of royal finances in a way that further enhances clarity and accessibility, while also placing it in its historical and constitutional context.

“To put it simply: we continue to modernise and evolve."

The King’s tax information will be made public on Thursday alongside the annual royal financial accounts, the BBC reported.

Under British law, monarchs are exempt from paying income tax, capital gains tax and inheritance tax. However, since 1993, beginning with the late Queen Elizabeth II, British sovereigns have voluntarily paid income tax and capital gains tax.

Charles had also disclosed his tax contributions during his time as Prince of Wales before succeeding to the throne in 2022.

Although British monarchs are not required to publish details of their tax payments, public attention on royal finances has intensified in recent years.

The royal family has been attempting to restore its image following revelations regarding Prince Andrew’s association with the late US sex offender Jeffrey Epstein.

Earlier this month, government auditors disclosed that Andrew generated private income by subletting cottages while paying a nominal “peppercorn rent" for a mansion over a period exceeding two decades.

The royal household receives an annual Sovereign Grant from the UK Treasury to fund official duties.

Apart from that, the monarch’s private earnings come from sources including the Duchy of Lancaster, a historic estate consisting of land holdings, properties and investments.

In the financial year 2024-25, the Duchy of Lancaster generated an annual income of 26.8 million pounds ($35.6 million) for the King.

(With inputs from AFP)

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