King Charles’ HUGE personal tax bill revealed in historic first – despite monarch legally not having to pay a penny
THE King’s personal tax bill has been revealed in a historic first.
Charles’s tax payable for 2024-25 was £12.9million, up from £11.7million in the 12 months before.
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His bill is similar to that of boxing champion Anthony Joshua, who paid about £11million according to the Sunday Times 2026 Tax List.
The monarch has paid more than £30million on a voluntary basis since his accession to the throne, and he is among the top 100 taxpayers in the country.
There is no legal requirement for a monarch to pay tax.
But the late Queen Elizabeth II began voluntarily paying income tax and capital gains tax on her private income in 1993.
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Prince William also revealed tax he pays from his Duchy of Cornwall Estate for the first time.
He pays income tax on any net surplus after costs funding the household’s official activities are met.
In 2024/25, he paid £7.76million in income tax and capital gains tax, down from £8.34million in 2023-24.
Since becoming Prince of Wales, he has paid more than £20million in tax to HMRC.
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Prince William, as Duke of Cornwall, has also decided that he will not benefit personally from the £1.5million annual rental income associated with Dartmoor Prison while the future of the site remains under consideration by the Ministry of Justice.
It will instead be removed from the duchy surplus he receives and invested into projects supporting Princetown and the wider Dartmoor community.
The prison has been abandoned since mid-2024 when levels of toxic radon soared above the legal limit.
Meanwhile, the core funding of the monarchy is to jump to almost £100million a year — nearly doubling in three years.
A new formula to calculate the Sovereign Grant, which pays for the Royal Family’s official duties and the upkeep of royal palaces, means the household will receive £99.9million in 2027-28.
It is a jump of £48.1million from £51.8million in 2024-25.
The change was agreed by Royal Trustees — outgoing PM Sir Keir Starmer, Chancellor Rachel Reeves, and the King’s Keeper of the Privy Purse and Treasurer James Chalmers.
The boost will pay for a backlog of maintenance work at occupied royal palaces and strengthen cyber security.