King Charles III paid over 30 million pounds in taxes since taking throne

King Charles III has voluntarily disclosed his tax payments, revealing he has paid more than 30 million pounds (35 million euros) on his private income since his accession to the throne in 2022. This move marks a significant step toward greater transparency within the British monarchy.

The Buckingham Palace announced the figures, stating that the publication of these payments is intended to "explain all elements of the royal finances with greater clarity and accessibility." This initiative aligns with a broader effort to modernize and evolve the institution. Following the King's disclosure, his heir, Prince William, also revealed his tax contributions, having paid over 20 million pounds (23 million euros) in income and capital gains tax since assuming the title of Prince of Wales.

Historically, British monarchs are not legally required to pay income tax, capital gains tax, or inheritance tax. However, Queen Elizabeth II voluntarily began paying taxes on her income and capital gains in 1993. King Charles III, even before becoming monarch, had a practice of disclosing his tax payments as Prince of Wales, a commitment formalized in the Memorandum of Understanding on Royal Taxation 2023.

The King's private income sources include returns from investments and revenues generated by his private estates, such as Balmoral in Scotland, as well as income from the Duchy of Lancaster, a private portfolio of land, property, and investments. The increased pressure for financial transparency within the Royal Family has been amplified by recent scrutiny, including the scandal involving Prince Andrew.