King Charles Makes an Unprecedented Move

King Charles is about to do something no other modern British monarch has done: show the country his personal tax bill. On Thursday, Buckingham Palace will publish how much tax the king paid in 2024–25, including on income from the Duchy of Lancaster, private investments, and his estates at Sandringham and Balmoral, the BBC reports. Palace officials say the move, which Charles pushed for, is aimed at boosting transparency and "modernizing" royal finances amid political pressure and scrutiny following scandals involving Andrew Mountbatten-Windsor.

The British monarch is not required to pay income or capital gains tax, but Queen Elizabeth II began doing so in 1993, with her son following her lead, per France 24. He also revealed his tax payments while Prince of Wales. The new figures will appear alongside the annual Sovereign Grant report, which details public funding for the monarchy. The total grant—£86.3 million ($114.4 million) last year, per the Independent—has risen to a record £137.9 million ($182.7 million), largely due to Buckingham Palace renovations. The grant is now expected to be cut for the first time since it was introduced in 2012.