King Charles paid £12.9m in voluntary tax in 2024-25, Guardian reports
7 reported4 unconfirmed
A two-sentence declaration released on Thursday revealed for the first time how much tax King Charles pays annually, according to a Guardian report. The king’s tax payable for 2024-25 was £12.9m, with a slightly smaller sum the year before, bringing his total tax since accession to £30m. The monarch is not legally liable for tax but has paid it voluntarily since 1993. The declaration did not disclose his total income, private fortune, or how much his bill was reduced by expenses for royal duties. The Guardian’s 2023 cost of the crown series estimated the king’s private wealth, known as the privy purse, at at least £1.8bn, including the Duchy of Lancaster estate valued at £690m. The Duchy of Lancaster is not liable for taxes that a company or trust might pay, allowing capital gains and rents to accumulate tax free. The palace stated the king voluntarily pays capital gains on his privately held wealth and that accounts are externally audited each year, but his personal holdings remain private.
What’s reported
The king’s tax payable for 2024-25 was £12.9m, according to a two-sentence declaration released Thursday.
His total tax payable since accession is £30m.
The monarch is not legally liable for tax but has paid it voluntarily since 1993.
The king’s private wealth (privy purse) is estimated at at least £1.8bn, including the £690m Duchy of Lancaster estate.
The Duchy of Lancaster is not liable for taxes that a company or trust might pay; capital gains and rents can accumulate tax free.
The palace says the king voluntarily pays capital gains on his privately held wealth and accounts are externally audited.
Comparisons: hedge fund boss Suneil Setiya (worth £1.8bn) paid £114m in annual tax; Ed Sheeran (worth £410m) paid £20m; JK Rowling (worth £975m) paid £47m; Erling Haaland paid £17m.
Open questions
What the king’s total income was for those years.
The total value of his private fortune.
How much his tax bill was reduced by expenses for royal duties.
Why the king’s tax bill is so low compared to others with similar wealth.
Key figures
King Charles (monarch)
Suneil Setiya (hedge fund boss)
Ed Sheeran (musician)
JK Rowling (author)
Erling Haaland (footballer)
Sources: The Guardian
