King Charles has become the first British monarch to publicly disclose his tax payments, revealing he paid £12.9 million in income and capital gains tax for the 2024–25 financial year. The figure places him among the UK's top taxpayers. 

Meanwhile, the Prince of Wales, Prince William, disclosed paying £7.76 million in tax over the same period. Buckingham Palace said both men voluntarily released the information to improve transparency and strengthen public confidence in the monarchy's financial accountability.

The annual royal accounts also confirmed that King Charles paid £11.7 million in tax in 2023–24, while Prince William paid £8.34 million. However, the disclosures do not include a detailed breakdown of how the tax liabilities were calculated, prompting calls from tax experts for greater transparency.

 The King's taxable income comes from the Duchy of Lancaster, private investments, and estates such as Balmoral and Sandringham, while Prince William receives income from the Duchy of Cornwall and pays the highest rate of income tax on any net surplus after audited expenses.

Prince William also announced he will no longer personally receive the £1.5 million annual rental income from the closed Dartmoor Prison. Instead, the money will be directed toward projects supporting the local community, particularly residents of Princetown.

The report further revealed that King Charles and Queen Camilla will continue living at Clarence House rather than relocating to Buckingham Palace after its refurbishment. Palace officials said the decision would allow greater public access to Buckingham Palace and help increase visitor revenue once renovation work, costing nearly £370 million, is completed next year.

Public funding for the monarchy through the Sovereign Grant will rise to £99.9 million annually from 2027–28 under a revised funding formula. The money will support palace maintenance, cybersecurity upgrades, and environmental improvements, including replacing boilers at Windsor Castle. Officials stressed that the grant is subject to strict Treasury oversight and does not provide personal income to members of the Royal Family.

The accounts also detailed royal travel spending, with Prince William's visit to Saudi Arabia costing just over £130,000, the King and Queen's state visit to Italy costing nearly £127,000, and 177 helicopter journeys totaling more than £733,000. 

Meanwhile, operating profits at the Crown Estate fell to £1.2 billion, largely due to reduced income from offshore wind leasing, although the Sovereign Grant will remain fixed at its new level for the next five years.