King Charles to Become First British Monarch to Disclose Personal Tax Bill

King Charles will become the first British monarch in modern times to disclose his personal tax bill. The tax payment will be shared as a new element in the royal family’s annual financial report. According to BBC reports on Sunday (21/6/2026), the decision, according to palace sources, was a personal one by the King. Buckingham Palace said the move is part of modernisation efforts for greater transparency and to ‘encourage a wider understanding of accountability’. It also follows calls for greater openness about royal finances after a scandal involving Andrew Mountbatten-Windsor. The move will publish the King’s tax payments for the previous year, 2024-2025, and will include taxes on his income such as profits from the Duchy of Lancaster, any private investments, and income from the King’s private estates, like Sandringham and Balmoral. ‘Simply put, we are continuing to modernise and evolve,’ a Buckingham Palace spokesperson said, with a commitment to publish the King’s tax bill annually. When he was Prince of Wales, Charles also disclosed how much tax he paid. Monarchs are not legally required to pay income tax, inheritance tax on what they receive from the previous monarch, or capital gains tax. However, King Charles voluntarily pays income tax and capital gains tax on any sale of personal assets. The total amount paid will be revealed for the first time, including tax on profits from the Duchy of Lancaster, which were estimated at around GBP 24 million (IDR 584 billion) last year. The property business, which includes estates in northern England and properties in central London, provides the majority of the monarch’s private income. The decision to move towards greater transparency appears to have aligned with public sentiment. Following the scandal involving Andrew Mountbatten-Windsor, members of parliament were among those demanding greater openness about the royal family’s financial affairs. The financial report next week is expected to provide a broader explanation of royal finances. ‘Our aim is to explain all elements of the royal finances in a way that further enhances clarity and accessibility,’ a palace spokesperson said. The King’s tax bill will be published alongside details of the Sovereign Grant, the annual public funding for the Royal Household. This covers costs such as staff, building maintenance, and travel for official engagements. The Sovereign Grant has risen to a record GBP 137.9 million (IDR 3.3 trillion), with a temporary increase used to pay for the renovation of Buckingham Palace. Since its introduction in 2012, the value of the grant has never decreased. However, a reduction is expected to be announced soon as part of a review conducted by the Treasury, Downing Street, and the Royal Household. Members of Parliament will have the opportunity to debate the Sovereign Grant when the legislation is presented to Parliament. Additionally, scrutiny of royal finances will be stepped up this year by the Public Accounts Committee, which will hold an inquiry into royal properties and rents from the Crown Estate. An initial report from the National Audit Office revealed that Prince Andrew’s daughters, Princess Beatrice and Princess Eugenie, who are not working members of the royal family, have properties at St James’s Palace and Kensington Palace. The rent for their accommodation is paid by the King from his private income. The palace said there is already parliamentary oversight of the Sovereign Grant, but added that personal tax information could ‘further enhance this transparency’ and in a way ‘consistent with our public service priorities’.