The British monarch King Charles III has revealed for the first time exactly how much he has paid in taxes, totaling around €35 million since ascending the throne in 2022, according to the annual royal finances report.
According to the document, during the last financial year (2024–2025) the monarch paid £12.9 million (€15 million) in taxes, following a payment of £11.7 million (€13.6 million) the previous year (2023–2024).
In total, since 2022, the royal tax bill has surpassed £30 million (€35 million), as indicated in the document released by Buckingham Palace.
The disclosure of this information demonstrates an effort by the British monarchy to be more transparent and comes amid the scandals involving the King’s brother, Andrew Mountbatten-Windsor.
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British monarchs are not legally required to pay income tax, inheritance tax, or capital gains tax.
However, since 1993, the late Queen Elizabeth II, who died in 2022, and the then-Prince, now King Charles III, have voluntarily paid taxes on income derived from the Duchy of Lancaster—comprising rural estates and urban properties across the country—as well as on personal investment income.
The Sovereign Grant, funded annually by the British Government to cover costs related to staff, building maintenance, and travel for official engagements, remains tax-exempt.
The financial report confirmed that this funding rose to £132.1 million (€153 million) for the 2025–2026 fiscal year and will increase again to £137.9 million (€160 million).
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Nevertheless, more than half of the funding continues to be spent on preserving and protecting the Royal Palaces, which are historical heritage sites, including the multi-year renovation of Buckingham Palace.
The report noted that once the structural works are completed, the grant will drop back down to £99.9 million (€116 million). The Royal Household also announced that the King will not reside permanently at Buckingham Palace in central London, breaking from the tradition of his parents.
According to the document, the Palace will remain the “ceremonial center of the Royal Family’s activity, the principal workplace of the Royal Household, and a national heritage asset with increased opportunities for public access.”
A spokesperson said that Charles III “continues to hold a great affection for Buckingham Palace and a deep respect for its role.”
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“It will remain a working residence, but we intend to expand public access precisely to maximize the national benefit of a publicly funded building,” the spokesperson clarified. Last year, nearly 97,000 guests attended 827 events at Buckingham Palace.
The King and Queen Camilla attended 708 events. The rest of the Royal Family made appearances at 2,273 events across the United Kingdom and abroad.
