How much tax do King Charles and Prince William pay?
Buckingham Palace releases figures for the first time, showing how much royals pay to HMRC
King Charles is among the top 100 UK taxpayers in terms of amount paid, but is still behind the top-earning Premier League footballers, new records have shown.
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Charles has become Britain’s first monarch in modern times to reveal how much tax he pays on his private income, and the figure was revealed as part of documents to go public on Friday.
The King has made efforts towards transparency on the back of Andrew Mountbatten-Windsor's fall from grace as part of the Epstein Files scandal.
As part of the data dump, it was also revealed that profits at The Crown Estate have slumped over the past year and that the King and Queen will reside in Clarence House once the refurbishments to Buckingham Palace have been completed.
Read also: Where do all the Royals live and is Charles the first to not stay in Buckingham Palace?
How much tax does King Charles pay?
Records have shown that King Charles has paid £24.6 million in tax on his private properties over the past two years.
It is the first time that the tax record has been released since the Queen and Charles volunteered to pay tax in 1993, something that the Royal Family is not required to do.
“His Majesty’s tax payable for 2024-25 was £12.9m (2023-24: £11.7m)," the report said.
"The total amount of tax payable by his majesty since accession to the throne is more than £30m.”
However, the document did not state how much the King earns nor from which property he has earned taxable money. No money spent as per the King's duties is taxable, which could be a figure in the millions.
The Guardian has estimated the King is worth £1.6 billion.
How does this compare to celebrities?
Fewer than 100 people based in Britain pay more tax than the King, but his £12m is less than:
- Writer JK Rowling, £47m
- Singer-songwriter Ed Sheeran, £20m,
- Footballer Erling Haaland, £17m
Hedge fund boss Suneil Setiya paid £114m, according to the Sunday Times, which was the highest amount in the UK.
How much tax does Prince William pay?
Prince William paid £8.34m in tax for 2023-24, although it is not known how much he earned.