King to publish tax details for first time amid transparency push
King Charles III will publish his personal tax details for the first time, a move meant to answer pressure for greater royal transparency after the Andrew scandal.
Buckingham Palace will release King Charles III’s annual Sovereign Grant briefing with his personal tax details for the 2024-25 financial year, a first for any British monarch. The disclosure will be paired with the royal household’s accounts as the palace tries to show more clearly how the monarchy is funded and what remains private.
King Charles ordered the change after repeated scrutiny of the institution since his accession, part of a push for “clarity and accessibility” around royal finances. The announcement comes after fresh pressure on the monarchy over Andrew Mountbatten-Windsor, whose ties to Jeffrey Epstein and benefits from royal property arrangements have renewed demands for openness.
The Sovereign Grant rose to £137.9 million in 2026/27, and last year Buckingham Palace published a 159-page report on spending the £86.3 million it received from the Treasury. Separately, the King received £26.8 million from the Duchy of Lancaster in 2024/25, while the Duchy of Cornwall provides income to the Prince of Wales.
The tax disclosure will not amount to a full account of royal wealth. Monarchs are not legally required to pay income tax, capital gains tax or inheritance tax, and the palace will not be publishing the Sovereign Grant itself as taxable private income. Since 1993, however, the monarch and heir have voluntarily paid income tax on private income from duchies and personal investments, a practice King Charles already followed when he was Prince of Wales.
His 2025-26 tax details are expected next year, once the audit is complete. Prince William is expected to follow the King’s example in a separate briefing. The King’s personal fortune has been estimated at £680 million.
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