King Charles has been slated after taking the unprecedented step of revealing he has paid the equivalent of more than $40million in personal tax since becoming monarch – a bombshell move hailed by aides as a landmark in royal transparency but dismissed by critics as a publicity stunt.
RadarOnline.com can reveal the king’s decision, confirmed in newly published royal accounts, makes him the first British sovereign to disclose the scale of his income tax and capital gains tax payments, covering the period since he acceded to the throne in 2022.
Bucking decades of royal secrecy, Charles personally requested the figures be included in the latest annual financial reports, which show he has voluntarily handed over tens of millions of dollars to the tax authorities at a time of ongoing scrutiny of the monarchy’s wealth, funding, and relevance.
According to Buckingham Palace, Charles paid about $15million in tax during the 2023/’24 financial year and a further roughly $16.5million in 2024/’25, with officials saying the audited total for 2025/’26 will push his overall contribution beyond the equivalent of $38million.
Palace insiders said the king personally pushed for publication of his combined income and capital gains tax bill in what has been framed as part of a wider effort to drag royal finances into the modern age.
One senior palace source said: “The king knew this would be controversial, but he believes meaningful transparency demands hard numbers, not vague assurances.”
The insider added: “He is acutely aware of the criticism over royal privilege, but he still wanted to demonstrate that he is contributing what he sees as a fair share.”
Charles’s move follows a parallel step from Prince William, 44, who has also disclosed details of his voluntary tax payments on income generated by the Duchy of Cornwall since becoming heir to the throne.
The accounts show William paid about $10.6million in tax during 2023/’24 and roughly $9.9million in 2024/’25, with another payment expected once the latest figures are finalized.
Last year, he received a private income of around $27.5million from the duchy, which funds his official and private activities as Prince of Wales.
William’s private secretary, Ian Patrick, confirmed the rationale behind the disclosures.
He said: “The prince recognizes the interest in these arrangements and the importance of appropriate transparency.”
Advisers said William intends to modernize the duchy over the next decade by selling around 20 percent of its landholdings and reinvesting the proceeds into sustainable schemes and community housing, although detailed spending plans have not been published.
The royal accounts also shed light on the complex financial relationship between father and son.
They reveal Charles paid about $640,000 in rent last year to William for the lease of Highgrove House in Gloucestershire, which the king occupies through an arrangement with the Duchy of Cornwall.
At the same time, the duchy has faced criticism over Dartmoor Prison, a Ministry of Justice site which has generated around $1.9 million a year in rent despite remaining closed since July 2024 because of high radon levels.
Palace officials say William has requested that the income be redirected to regeneration projects for the local community.
The latest Sovereign Grant report details the scale of royal activity underpinning those public funds.
Charles and Queen Camilla, 76, carried out 708 engagements between them, while other members of the royal family completed a further 1,565 engagements in the US and overseas.
Royal residences hosted 827 events attended by about 97,000 guests, with aides arguing that expanded public access to palaces helps justify continued taxpayer support.
Privately, Charles continues to receive income from the Duchy of Lancaster, which generated about $32million in the most recent financial year, along with returns from personal investments and the privately owned Sandringham and Balmoral estates.
He voluntarily pays income tax and capital gains tax on that income, excluding the duchy itself.
The Sovereign Grant, which funds his official duties and the running of the Royal Household, rose to roughly $166million, largely to support the ongoing refurbishment of Buckingham Palace.
James Chalmers, the Keeper of the Privy Purse, said the uplift is temporary and that the grant will fall to around $126million and remain at that level for the next five years.
He stated: “His Majesty is guided by a singular purpose – to serve with constancy, devotion and unwavering resolve.”
Campaigners remain unconvinced.
Graham Smith, chief executive of the anti-monarchy group Republic, has described the Sovereign Grant as “inflated” and argued headline tax disclosures do little to address what he sees as structural privilege.
Tax experts have also questioned how far the new openness really goes.
Dan Neidle, founder of Tax Policy Associates, hit out: “The reality is that the King is completely unlike any other taxpayer, and the boundary between personal assets and Crown assets is very wobbly.”