King Charles III has paid nearly £30 million in taxes since becoming monarch in 2022, according to figures released by the British royal household, marking the first time the palace has disclosed the exact amount of tax paid by the king since the monarchy began voluntarily contributing to public finances.
The monarch’s tax payments total almost £35 million euros, equivalent to around £30 million, since he succeeded Queen Elizabeth II. The disclosure forms part of Buckingham Palace’s latest effort to provide greater transparency over royal finances following a series of controversies involving former Prince Andrew, including questions surrounding his use of Royal Lodge at Windsor and financial arrangements linked to properties within the royal estate.
James Chalmers, manager of the Crown’s Privy Purse, said the modern monarchy continues to adapt to changing expectations while maintaining a diplomatic role through what he described as the royal family’s “soft power” influence.
The figures were released alongside the annual Sovereign Grant Report, which details public funding allocated to support official royal activities and the upkeep of royal properties. The tax payments made by King Charles III relate to his private wealth, including agricultural and property holdings from the Duchy of Lancaster as well as other private investments.
The Sovereign Grant is funded through revenue generated by the Crown Estate, a collection of historic properties and assets managed by the government. Under the current arrangement, the government returns 15 percent of the Crown Estate’s income to the royal household each year.
For the 2025-26 financial year, Buckingham Palace received £132.1 million, or around €153.7 million, through this system. Nearly half of the amount was allocated to maintaining and preserving royal palaces and residences, while the remainder supported official engagements carried out by members of the royal family.
During that period, King Charles III and Queen Camilla attended 708 public engagements. When events involving the Prince and Princess of Wales and other working members of the royal family were included, the total number of official appearances reached 2,273.
A total of 97,000 guests attended 827 events held at royal palaces during the year.
The report also confirmed that Buckingham Palace will no longer serve as the personal residence of the king and queen. Charles III and Queen Camilla continued living at Clarence House in London after taking the throne, unlike Queen Elizabeth II, who maintained her residence at Buckingham Palace throughout her reign.
Buckingham Palace will instead remain the centre of royal operations and the main workplace of the royal household, while also becoming more accessible to the public as part of its role as a national heritage site.
A palace spokesperson said the building would continue to host significant royal activity, but the household intended to expand public access in order to increase the national benefit of a property funded through public finances.
The British government confirmed that the Sovereign Grant allocation for the 2026-27 financial year would rise to £137.9 million, or around €160 million, to support the final year of a decade-long renovation programme at Buckingham Palace in central London.
