King Charles III is poised to make an unprecedented disclosure for a British monarch by revealing his personal tax bill on Thursday, a move that comes amid renewed calls for openness over royal finances following months of damaging headlines involving his disgraced younger brother, the former Prince Andrew.
According to British media reports over the weekend, the figures will be released as part of Buckingham Palace’s annual briefing on the sovereign grant, the system through which public money helps fund the monarchy. In last year’s report, the palace detailed how it used the 86.3 million pounds ($113.7 million) received from the Treasury, including spending tied to the extensive renovation of Buckingham Palace.
Charles previously published information about the tax he paid on his private income while serving as Prince of Wales. However, this will mark the first such disclosure since he became king after the death of Queen Elizabeth II in 2022. Prince William, who now holds the Prince of Wales title, is also expected to mirror his father’s approach in a separate briefing.
The decision arrives at a sensitive moment for the royal family, with both lawmakers and members of the public pressing for more transparency about how the monarchy operates. Much of that scrutiny has intensified in the wake of revelations surrounding the former Prince Andrew, who was stripped of his titles in 2025.
Now known as Andrew Mountbatten-Windsor, the king’s younger brother is under investigation for misconduct in public office in connection with his friendship with convicted sex offender Jeffrey Epstein. He has also been required to leave a large royal estate where he had been living without paying rent.
The BBC reported last Saturday, citing palace sources, that the king personally chose to disclose his tax payments as part of an effort to “encourage wider understanding and accountability.”
Long before the Mountbatten-Windsor controversy escalated, Charles had signaled his intention to streamline the monarchy and reduce costs. The aim, royal observers say, has been to help secure the future of a 1,000-year-old institution at a time when questions persist about the place of hereditary rule in a modern democracy.
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The king’s personal wealth is estimated at 680 million pounds ($896 million), placing him at No. 230 on the Sunday Times’ annual ranking of Britain’s richest people.
While the monarch is not required to pay income tax, Charles voluntarily pays tax on his private income. His mother began paying taxes in 1993 after public outrage at the cost of restoring Windsor Castle following a devastating fire the previous year. The arrangement was formalized under a memorandum of understanding between the government and the crown, which guarantees Charles the same right to privacy as any other taxpayer.
The king is expected to release information about the taxes he pays only on his private income, most of which comes from two privately owned estates, Balmoral in Scotland and Sandringham on the east coast of England, as well as savings and investments.
Balmoral comprises more than 50,000 acres (20,000 hectares) and the king’s summer home, Balmoral Castle. Much of the grounds are open to the public, with the estate offering guided tours, afternoon tea and golf. Sandringham is the king’s 20,000-acre (8,000-hectare) country retreat on the east coast of England. The house and gardens are open to the public, with much of the land farmed either by the estate itself or tenants.
The king doesn’t pay taxes on the sovereign grant or other income that is used to fund his official duties.
Prince William’s primary source of private income is the Duchy of Cornwall, a portfolio of land and investments held in trust by the Prince of Wales during his lifetime. The duchy owns about 130,000 acres (52,000 hectares) of land and reported a profit of 22.9 million pounds ($30.2 million) last year. The duchy is overseen by a board of directors and major decisions must be approved by the Treasury.
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