King Charles III salutes members of the Brtish armed forces at the annual Trooping the Color at Horseguards Parade in London on June 13. On Thursday he became the first ever monarch to reveal how much tax he pays. Photo by Hugo Philpott/UPI | License Photo
June 26 (UPI) -- Britain's King Charles III paid $17.2 million in taxes in 2024-25 and almost $40 million since he ascended the throne in 2022, according to the first ever tax statement published by the crown.
The British monarch has no tax liability in law, but both the then-Prince Charles and the late Queen Elizabeth II began paying voluntarily in 1993.
The palace said in a news release Thursday that the move to release the sovereign's personal tax bill -- but not his tax return -- together with a statement detailing income sources was "part of the Royal Household's commitment to transparency."
The Royal Household's annual financial statement shows Prince William paid a little over $10.3 million in taxes in 2024-25, bringing the total father and son paid to His Majesty's Revenue & Customs to more than $66 million since September 2022.
