King to reveal personal tax bill in historic transparency move
The King is set to become the first head of state to publicly disclose his personal tax bill, an unprecedented move aimed at enhancing transparency regarding royal finances. This decision, made at the King's express wish, is part of broader adaptations since his accession and follows his previous
By Tony Jones
The King is set to become the first head of state to publicly disclose his personal tax bill, an unprecedented move aimed at enhancing transparency regarding royal finances.
This decision, made at the King's express wish, is part of broader adaptations since his accession and follows his previous practice of releasing tax information when he was Prince of Wales.
His private income streams include investments, trading profits, funds from Balmoral and Sandringham, personal savings, and £26.8 million from the Duchy of Lancaster estate for the 2024/2025 financial year.
The King voluntarily pays income tax on all private earnings and capital gains tax on relevant assets, with his total personal tax information for 2024-25 scheduled for publication later this week.
This disclosure comes alongside the release of a new royal household report designed to increase clarity and accessibility of royal finances, and the publication of the Sovereign Grant accounts.