King Charles paid more than £30 million in taxes since taking the throne

Britain's King Charles has paid more than £30 million in taxes since becoming monarch in 2022.

Britain’s King Charles has paid more than £30 million in taxes since becoming monarch in 2022, according to royal officials who released the figures for the first time as part of a wider effort to improve transparency over royal finances. The disclosure places the king among the country’s highest taxpayers and reflects the royal family’s attempt to respond to growing public scrutiny following the death of Queen Elizabeth II.

Officials also confirmed that Charles will not make Buckingham Palace his permanent home after its major renovation is completed next year. Instead, he will continue living at Clarence House, where he has resided for many years. Although the decision marks a significant change from royal tradition, Buckingham Palace will continue to serve as the centre of official royal duties and ceremonial events.

The palace has undergone a decade long refurbishment costing hundreds of millions of pounds. The work includes replacing outdated electrical systems, plumbing and heating infrastructure to preserve one of Britain’s most recognisable landmarks. When the project began in 2017, it was expected that the palace would once again become the monarch’s main London residence, as it had been since Queen Victoria’s reign in the nineteenth century. However, royal officials now say the building will instead function primarily as the headquarters for official engagements, state ceremonies and visits by foreign leaders.

The king will still have private accommodation available at Buckingham Palace for occasional use when required. Officials also announced plans to allow greater public access to the historic building, which already attracts hundreds of thousands of visitors each year, although further details have not yet been released.

Under British law, the monarch is not required to pay income tax, capital gains tax or inheritance tax. Despite this exemption, Charles has voluntarily continued the practice introduced by Queen Elizabeth in the early 1990s by paying tax on his private income. Royal officials revealed that he paid £11.7 million in taxes during the 2023 and 2024 financial year and more than £30 million overall since taking the throne.

Much of the king’s private income comes from the Duchy of Lancaster, a large estate that generated more than £25 million during the 2025 and 2026 financial year. In addition, the monarchy receives funding from the government through the Sovereign Grant, which is calculated using profits from the Crown Estate. Those funds cover the costs of maintaining royal residences, paying staff and supporting official travel and public duties.

The grant increased significantly over the past two years because of higher revenues from offshore wind farm projects. It reached £137.9 million for the current financial year. However, royal officials said the amount will be reduced to £100 million from 2027 onward following King Charles’s request. They said the reduction demonstrates the king’s desire to keep public spending under control while ensuring royal duties continue without interruption.

Despite these disclosures, questions about royal finances continue to attract attention. Recent reports concerning income generated from royal estates have prompted criticism from campaign groups seeking greater financial transparency. While palace officials argue they are providing more information than ever before, critics believe important details about the monarchy’s wealth and financial arrangements remain hidden from public view. The latest announcements are therefore likely to continue the debate over how the royal family’s finances should be managed and disclosed in the future.