King Charles has made history by becoming the first monarch to publish his tax bill, while Prince William has revealed his tax details for the first time, as new figures show the pair have paid more than £50million in tax since the change of reign.
Charles paid £12.9 million in the financial year 2024-25, making him one of the UK’s top 100 taxpayers for that period. He paid £11.7million the previous year.
The King has contributed more than £30million to the public coffers since his accession to the throne in September 2022.
How much does Prince William pay in tax?
William, meanwhile, paid £7.76 million in income and capital gains tax in 2024-25 and £8.34million the previous year, adding to a total of more than £20million paid in tax since he became heir to the throne.
Father and son voluntarily pay tax on the income they receive from the Duchies of Lancaster and Cornwall respectively.
William uses the income he receives from the Duchy of Cornwall to fund his and Kate’s public and private activities, including office and administrative costs along with public and charitable work.
He pays income tax at the highest rate on any net surplus after those costs have been deducted – and independently audited. In the year 2025-26, William received £21.6million.
The Duchy, a £1billion land and property portfolio, provides the heir to the throne with income independent of the monarch.
Among the properties it owns is Highgrove, the King’s beloved Gloucestershire home. Figures published by the Duchy this year show that rent charged for its use by the King, his staff and commercial operations there totalled £503,711, up from £475,792 the previous year.
Why have Prince William and King Charles made their tax information public?
This is the first time Prince William has shared his tax bill, having resisted making it public over the past two years.
He and King Charles have done so to help with transparency around royal finances.
© Getty ImagesWilliam’s private secretary Ian Patrick said: “The prince recognises the interest in these arrangements and the importance of appropriate transparency.“
The figures for the most recent tax year, 2025-26, are not yet available, but will be reported next year.
Charles’s tax bill covers all his private income and capital gains tax on some elements of his assets. These include money from investments, funds generated by his private estates of Balmoral and Sandringham and private savings.
He also receives a private income from the Duchy of Lancaster, a land and property portfolio created to give the monarch financial independence from the government of the day. In the year 2025-26 it paid the monarch £25.2 million.
The Duchy was historically known as the Privy Purse and was used for official and private expenditure and the expenses of other members of the royal family.
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