King Charles reveals $17M tax bill as royal accounts published

King Charles has become the first British monarch to reveal his tax bill, with newly published figures showing he paid £12.9 million ($17 million) in tax during the 2024-25 financial year.

According to the BBC, the level of tax paid by Charles places him among the top 100 UK taxpayers.

The annual royal report and accounts also show that the Prince of Wales paid £7.76 million in tax over the same period.

The financial disclosures come as the Royal Household published details of its annual accounts, including information on public funding and official spending. It was also revealed that Charles and Queen Camilla will continue to live in Clarence House rather than move into Buckingham Palace.

The accounts show that the main source of annual public funding for the Royal Household — the core element of the Sovereign Grant — will nearly double within three years to just under £100 million ($132 million) by 2027-28.

The Sovereign Grant for 2024-25 was £86.3 million ($114 million), with £51.8 million ($68 million) allocated toward core spending and a further £34.5 million ($46 million) funding renovations at Buckingham Palace.

Once the renovation work is completed, the overall grant will fall from £137.9 million ($182 million) to £99.9 million ($132 million), although both figures remain significantly higher than in previous years.

The Sovereign Grant funds the monarchy’s running costs, including staffing, travel for royal engagements and official household expenses such as receptions and the maintenance of palaces.