Britain’s King Charles III arrives to visit the University College Hospital Macmillan Cancer Centre in London on April 30, 2024. Photo by HENRY NICHOLLS / AFP
King Charles III is set to make history by becoming the first British monarch to publicly disclose details of his personal tax payments.
Buckingham Palace said the move is part of efforts to improve transparency and modernise the monarchy as public interest in royal finances continues to grow.
Although British monarchs are exempt from certain taxes under the law, members of the royal family have voluntarily paid some duties for decades.
A palace spokesperson said, “The decision to do so as Sovereign has come at the express wish of the King himself, as part of the adaptations carried across since accession.”
The spokesperson added, “Our aim is to explain all elements of royal finances in a way that further enhances clarity and accessibility, while also placing it in its historical and constitutional context.”
The statement concluded: “To put it simply: we continue to modernise and evolve.”
Charles is expected to release the information alongside the annual royal financial accounts on Thursday. The announcement comes as the royal family faces renewed scrutiny over its finances following recent revelations involving Prince Andrew and questions surrounding royal income sources.
