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

Key Points:

• King Charles has disclosed paying £12.9 million in tax for 2024-2025, making him the first monarch to reveal their tax bill, placing him among the top 100 UK taxpayers; Prince William also disclosed paying £8.34 million for 2023-24.
• The King and Queen Camilla will continue residing in Clarence House to allow greater public access to Buckingham Palace, which is undergoing nearly £370 million in refurbishments expected to complete in March 2026.
• The Sovereign Grant, the main public funding for the Royal Household, is set to rise to nearly £100 million annually by 2027-28, a significant increase from £51.8 million three years ago, intended for maintenance, cybersecurity, and green energy upgrades.
• The King’s income comes primarily from the Duchy of Lancaster estate, providing £25.2 million in 2025-26, while Prince William’s income is funded by the Duchy of Cornwall; both pay income tax at the highest rate and have voluntarily disclosed their tax payments for transparency.
• Royal travel and security costs include £130,000 for Prince William’s Saudi Arabia visit and £733,063 for 177 helicopter journeys in the past year; the Sovereign Grant funds official duties, not personal wealth, with strict oversight to ensure value for money.