Britain’s King Charles has paid more than £30 million in taxes since ascending the throne in 2022, royal officials revealed on Thursday for the first time, placing him among the country’s top 100 taxpayers.
The disclosure comes as the royal family seeks greater transparency over its finances following increased public scrutiny after the death of Queen Elizabeth II.
Officials also confirmed that King Charles will not return to live at Buckingham Palace after its decade-long refurbishment is completed next year. Instead, he will continue residing at Clarence House, his long-time London residence.
Although Buckingham Palace will no longer serve as the monarch’s primary home, it will remain the main venue for ceremonial and official events, including state visits.
“It is and will remain ‘monarchy HQ’, the crown jewel of our national buildings, with the sovereigns standard flying proudly from the roof whenever His Majesty is in London,” said James Chalmers, the king’s treasurer and Keeper of the Privy Purse.
Neither King Charles nor Queen Elizabeth II has stayed overnight at Buckingham Palace since 2019, though the king will retain private accommodation there. Officials also said public access to the palace will be expanded after renovations are completed.
While the British monarch is not legally required to pay income, capital gains or inheritance tax, Charles has continued the voluntary practice adopted by Queen Elizabeth II in 1993. However, the amounts had never previously been disclosed.
According to Chalmers, the king paid £11.7 million in taxes during the 2023-24 financial year and more than £30 million overall since becoming monarch.
King Charles receives private income from the Duchy of Lancaster estate, which generated £25.2 million in 2025-26, in addition to earnings from personal investments and other holdings.
He also receives the Sovereign Grant, government funding calculated as a percentage of profits from the Crown Estate, which finances royal staff, official residences and travel. The grant increased from £86 million in 2024-25 to £132 million in 2025-26, largely due to rising offshore wind farm revenues, and will rise to £137.9 million in 2026-27.
Chalmers said the grant would be reduced to £100 million in 2027-28, where it will remain until 2031-32, describing the decision as being “in line with His Majesty’s clear wishes.”
“This is not a blank cheque,” Chalmers said, adding that safeguards ensure the funding remains proportionate.
The announcement follows criticism over reports that the Duchy of Lancaster and Prince William’s Duchy of Cornwall had charged rent to public bodies, including the National Health Service, the military and schools.
Prince William’s office separately disclosed that he paid £7.76 million in taxes during 2024-25 and directed £1.5 million in rent from a closed prison property to the local community.
Despite the increased financial disclosures, anti-monarchy campaign group Republic argued that questions over royal finances remain.
“Another hike for Charles, more spin and gloss and more misdirection on taxes,” said Republic chief executive Graham Smith. “This is the way with royal reporting: the more they reveal, the more questions are raised.”
