RoyalFamily News & Analysis

King Charles Reveals £12.9m Tax Bill Amid Transparency Efforts

King Charles has disclosed his £12.9 million tax bill, stemming from voluntary payments of some income tax, capital gains tax, and inheritance tax based on a Memorandum of Understanding established in 1993. The Royal Household's annual financial report indicates the Privy Purse received £25.2 million from the Duchy of Lancaster for the year to March 31. The methodology for calculating the tax bill remains unclear, as the Royal Household has not specified how much of the £12.9 million originates from various income sources. This disclosure is part of a push for transparency regarding the royal finances.