Britain’s King Charles did something on Thursday his predecessors never did: reveal how much he pays the taxman. In a move billed as a transparency push in the face of scrutiny over royal funding and Prince Andrew’s past financial arrangements, Buckingham Palace announced that Charles has voluntarily has paid about $40 million in personal tax since taking the throne in 2022, including more than $15 million in 2023-24 and $17 million in 2024-25. That’s not the whole story, though, the Washington Post reports: The palace didn’t say what income those payments were based on.
Nor did the palace detail the king’s private wealth, which includes money from the Duchy of Lancaster estate. So there’s not a way to know whether those payments represent a serious hit or a manageable outlay for an exceedingly wealthy monarch. A constitutional expert said the sums likely place Charles “amongst the very top of taxpayers.” The report also covered the Sovereign Grant, the taxpayer-funded pot for official duties, which rises to about $182 million next year, temporarily inflated to finish a refurbishment of Buckingham Palace. Anti-monarchy campaigners were unmoved by the release. “They’ll spin this as Charles being a huge taxpayer,” said Graham Smith of the group Republic. “But the question is, why is his income so high?”
There was an announcement during the tax reveal about Buckingham Palace, as well: Charles and Queen Camilla won’t move back in once the work is done. That will keep the palace a working venue and tourist draw, per the Independent, which officials said would be tougher to do with the royals in residence. The king and queen will continue to live in Clarence House when they’re in London and use private rooms at the palace only during working days or when otherwise needed. And the king’s standard still will fly from the roof of Buckingham Palace when he’s in town, the palace said. Buckingham Palace “is and will remain Monarchy HQ,” a royal official said.
