However, Lownie questioned what information would remain undisclosed once the figures are released.
He said: “Yes, we will be given a figure for Charles’s total tax payment for the financial year 2024-2025, but not how that sum is calculated. How much is income tax, and how much capital gains tax? We will not be told. What expenses have been deducted to arrive at that figure? Silence covers that question and many more besides.”
A source familiar with discussions surrounding the financial disclosure said the announcement was intended to demonstrate the monarchy was responding to increasing public expectations.
The insider added: “The publication of the King’s personal tax payment is designed to show a willingness to modernize, but there is recognition that it will also generate new questions about how royal finances operate and what remains outside public view.”
Charles receives income from the Duchy of Lancaster, a portfolio of land, commercial property, and investments that generated $36.2million last year.
He pays the highest rate of income tax after deducting official expenses and also pays capital gains tax on the sale of private assets acquired since becoming monarch in September 2022.
The Duchy of Lancaster, along with the Duchy of Cornwall, remains exempt from corporation tax, a long-standing arrangement that has attracted growing political and public scrutiny.