The decision means the monarch will become the first British sovereign to publicly share details of his tax payments, according to UK media reports
London: King Charles III will disclose his personal tax information in a landmark step towards greater transparency, Buckingham Palace confirmed on Saturday, as scrutiny over royal finances intensifies in the United Kingdom.
The decision means the monarch will become the first British sovereign to publicly share details of his tax payments, according to UK media reports.
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Buckingham Palace said the move was taken at the King’s personal request as part of broader reforms since his accession to the throne.
“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,” a Palace 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.”
Under UK law, the monarch is exempt from paying income tax, capital gains tax and inheritance tax. However, since 1993, following an agreement introduced under Queen Elizabeth II, the sovereign has voluntarily paid income and capital gains tax.
King Charles also previously disclosed his tax contributions when he was Prince of Wales.
The announcement comes amid renewed public interest in royal finances, partly driven by controversy surrounding Prince Andrew and his financial arrangements. Questions have been raised in recent months about income sources linked to royal residences and private arrangements.
Earlier this month, government auditors highlighted that Andrew Mountbatten-Windsor had received private income from subletting properties while paying a nominal rent for a royal residence over many years.
The royal family receives public funding through the Sovereign Grant, which supports official duties and palace upkeep. Alongside this, the King’s private income is largely drawn from the Duchy of Lancaster, a historic estate comprising land, property and investment assets.
The Duchy generated an income of £26.8 million ($35.6 million) for the King in the 2024–25 financial year.
Published: 21 Jun 2026, 10:02 am IST
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