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International Business Times UK
International Business Times UK
Tanmay Puri

King Charles Pays £12.9M in Tax as Palace Lifts Lid on Royal Finances for First Time in History

King Charles’ £12.9M Tax Bill Revealed for First Time as Palace Opens Royal Finances (Credit: HM Government, OGL 3, via Wikimedia Commons)

King Charles's personal tax bill has been disclosed for the first time, marking a historic moment as Buckingham Palace opened up about the monarch's finances.

The figures show that the King paid £12.9 million in tax during the 2024-25 financial year, an increase from £11.7 million the previous year. Although there is no legal obligation for a reigning monarch to pay tax, Charles has continued the voluntary arrangement introduced by Queen Elizabeth II in 1993.

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