>
King Charles III of Great Britain will be the first British monarch in modern history to publicly disclose information about the taxes he has paid. The decision is entirely voluntary and personal. This is reported by the BBC.
This Thursday, a new item will appear in the royal family’s annual financial report: “His Majesty’s Tax Payments for 2024-2025.” This will include taxes on income from the Duchy of Lancaster—a large real estate business with estates in Northern England and central London, which generated around £24 million last year. Additionally, it will cover personal investments and income received from the private estates of Sandringham and Balmoral.
Significantly, Charles is not legally obliged to pay income tax, inheritance tax from the previous monarch, or capital gains tax. However, he pays voluntarily. And now, he will also openly share this information.
This is part of the monarch’s initiative to enhance the transparency of Buckingham Palace, which involves the annual publication of his tax return.
The decision was made following scandals involving Prince Andrew (particularly the discovery of subletting cottages at Royal Lodge). At that time, Members of Parliament loudly demanded greater openness regarding the royal family’s finances. Charles appears to have decided not to wait until he is compelled and has taken the first step independently.
Concurrently, it was reported that the state grant for the maintenance of the royal court has reached a record £137.9 million. These funds are allocated for staff salaries, building upkeep, and official travel. This sum has not decreased since 2012, but for the first time, a reduction is expected following the current review of balances between the Treasury and Downing Street.
Another detail that does not enhance the palace’s reputation: Prince Andrew’s daughters, Princesses Beatrice and Eugenie, are provided with accommodation in St. James’s Palace and Kensington Palace, the rent for which is personally paid by the King from his income. Neither of them are working members of the royal family.
Openness for the monarch is relative. However, starting with a tax return is already a commendable beginning.