King becomes first monarch to reveal tax bill as royal public funding to double to £100m

King Charles III has made history by publicly disclosing his personal tax bill, revealing he paid £12.9 million ($17.04 million) for the 2024-25 financial year. This unprecedented transparency, which also includes over £30 million paid since his 2022 ascension, positions the monarch among the UK's highest taxpayers.

Simultaneously, public funding for the monarchy, known as the Sovereign Grant, is set to temporarily rise to £137.9 million in 2026-27 to support the ongoing Buckingham Palace refurbishment. Following this, it will be reduced to £99.9 million annually for the five years from 2027 to 2032, a figure that represents a significant increase over the past decade despite the upcoming reduction from its current peak.