For the first time in history, Buckingham Palace has made public the amount paid in personal taxes by King Charles III. The British monarch disbursed 12.9 million pounds (equivalent to around R$88.6 million) in taxes during the 2024-2025 fiscal year, which represents a significant increase compared to the previous period.
The unprecedented disclosure offers a clearer insight into the royal chief’s private finances. In the previous fiscal year, Charles III had collected 11.7 million pounds (approximately R$80.3 million). Since his accession to the throne, the total amount paid by the king in taxes has already exceeded 30 million pounds (R$205.9 million), placing him among the one hundred largest taxpayers in the United Kingdom.
King Charles III’s tax payments in detail
The monarch’s tax returns revealed that he paid taxes on his personal income, which came mainly from private properties. The king was also taxed on capital gains from the sale of some assets, although the Crown did not provide details on the methodology for calculating these taxes.
Historically, the head of the British monarchy has no legal obligation to pay taxes, whether on income, capital gains or inheritance. However, this practice underwent a change in 1993, when Queen Elizabeth II chose to voluntarily collect income tax, aiming to restore the image of the monarchy in a period marked by crises and divorces in the royal family.
The change in tradition and the image of the monarchy
Queen Elizabeth II’s decision to start paying taxes voluntarily in 1993 was an important milestone. The period was troubled for the monarchy, with its reputation damaged by a series of events, including the separation of Charles and Diana, in addition to the divorces of Andrew and Sarah Ferguson, and Princess Anne with her first husband. The main objective of this measure was to reinforce the connection between royalty and the public and demonstrate a commitment to transparency and fiscal responsibility, even without legal imposition.
The initiative created a precedent for future monarchs, consolidating the practice of voluntary payment as a way of aligning the institution with the expectations of contemporary society. Such a gesture, at the time, was essential to mitigate criticism and strengthen public acceptance of the royal family, transforming a legal exemption into an act of goodwill and civic responsibility.
Origin of the royal family’s fortune and sources of income
The wealth of the British monarchy is complex, with income coming from different sources, which is divided between the Crown, the monarch and the heir. One of the main ones is the Duchy of Lancaster, an estate that dates back to 1399 and covers 16,960 hectares of commercial property and land in central London and other cities. In March 2026, his net worth was valued at £687.3 million (approximately R$4.7 billion). The incumbent monarch receives surplus revenue, which was 25.2 million pounds (R$172.9 million) in 2025/2026, but cannot use resources from the sale of his lands.
In addition to these official sources, King Charles III has undisclosed personal assets and investments, and derives income from his private estates, such as Balmoral Castle in Scotland and Sandringham in eastern England. It is on this portion of personal income, and not on the Crown’s assets, that the king voluntarily pays his taxes.
Tax Details of Prince William, Prince of Wales
Prince William, current heir to the throne and Prince of Wales, also released his tax data. He paid approximately £7.8 million in income and capital gains tax in the 2024-2025 tax year. This amount is slightly lower than the £8.3 million he had paid in the previous fiscal year.
William’s main source of income is the Duchy of Cornwall, created in 1337 to support the heir to the throne. This vast estate covers 51,861 hectares across England and Wales, with net assets valued at £1.2 billion in March 2026. William receives the excess net income from the Duchy, which reached £21.55 million in 2025/2026.
Members of the royal family: who does and does not receive public funds
Resources from duchies and other sources are used to maintain the monarch’s private residences and to pay for the income of members of the royal family who perform official functions. These members, who receive free official residence, are not permitted to seek outside income.
Currently, the list of royals receiving financial support to carry out their official duties includes:
- Princess Anne, sister of King Charles III
- Prince Edward, the king’s younger brother, and his wife
- The Duke and Duchess of Gloucester
- The Duke of Kent
- Princess Alexandra
Members such as Prince Harry and his uncle, Andrew Mountbatten-Windsor, although still part of the royal family, do not receive public money because they do not perform official royal duties. This distinction highlights the funding structure and obligations associated with different roles within the British monarchy.