LONDON, June 21, 2026 (BSS/AFP) - King Charles III will reveal his personal 
tax bill in a bid to improve transparency, Buckingham Palace confirmed to AFP 
on Sunday, as royal finances come under increasing public scrutiny in 
Britain.

British monarchs are legally exempt from paying certain taxes, though they 
have paid some duties voluntarily for decades.

They also have no obligation to disclose their private tax bills, but recent 
scandals surrounding the disgraced former prince Andrew Mountbatten-Windsor 
have thrust the royal family's finances into the spotlight.

Charles began releasing his personal tax information when he was heir to the 
throne, but will become the first monarch to disclose it.

"The decision to do so as Sovereign has come at the express wish of the King 
himself," a palace spokesperson said in a statement released late Saturday to 
a limited number of British media outlets.

It added that the move was "part of the adaptations carried across" since 
Charles acceded to the throne in 2022.

"Our aim is to explain all elements of royal finances in a way that further 
enhances clarity and accessibility, while also placing it in its historical 
and constitutional context.

"To put it simply: we continue to modernise and evolve."

Charles's tax information will be shared on Thursday as part of the release 
of annual royal financial accounts, the BBC reported.

- Varied income -

The head of the royal family gets money from various sources, including the 
publicly-funded Sovereign Grant as well as private duchy income worth tens of 
millions of pounds more.

The grant -- an annual government payment to cover the costs of official 
duties by working royals -- has increased markedly in 2025-2026, to o132.1 
million ($175 million), compared with o86.3 million the prior financial year.

Meanwhile, Charles received o26.8 million in private income from the Duchy of 
Lancaster in 2024-25.

Profits from the historic duchy -- a large, diversified portfolio of land, 
property, and investments managed like a modern business -- funds personal 
expenses and some official duties.

It is the main source of private income for the head of the monarchy, with 
the heir -- currently Charles's eldest son William, Prince of Wales -- 
benefiting from a similar arrangement with his Duchy of Cornwall.

Under UK law, monarchs do not have to pay income, capital gains or 
inheritance taxes.

However, since 1993 they have voluntarily paid the first two, following 
public pressure and scrutiny of royal finances, including questions over who 
would pay for repairs following a fire at Windsor Castle.

Like his father, William voluntarily pays income and capital gains taxes on 
his duchy's profits.

- Image repair -

The upcoming tax disclosures will illuminate Charles's other personal income.

The king owns both Balmoral and Sandringham Estates, which were inherited 
from his mother, the late Queen Elizabeth II. They were exempt from 
inheritance tax under a long-standing government agreement.

Other private sources of income could include money from investments or 
trading profits.

The royal family has sought to repair its image since damaging revelations 
around Andrew, Charles's younger brother, and his ties to the late US sex 
offender Jeffrey Epstein.

It has also emerged that the disgraced ex-prince earned a private income from 
subletting cottages while paying a symbolic "peppercorn rent" for a mansion 
for more than two decades.

The UK parliament's watchdog Public Accounts Committee has launched an 
inquiry into residential property arrangements provided to royals in the wake 
of the revelations.

Norman Baker, a former lawmaker and longtime critic of royal finances, told 
AFP earlier this year that Andrew's situation had "opened the door" to 
greater scrutiny.

"In the end Britons are in the dark about the true cost of their monarchy," 
he said.