King Charles is set to break centuries-old precedent with a major transparency move.
In a historic new decision, Buckingham Palace announced that the King has decided to unveil his personal tax payments, which will be published for the first-time ever – a landmark move that will make him the first British monarch to do so.
The decision is said to have been made at King Charles’s own “wish,” as he aims to bring more transparency to royal finances.
His Majesty’s announcement comes after years of growing attention and scrutiny over the Royal Family’s private financial matters.
The criticism grew further earlier this month when the National Audit Office revealed that the King’s younger brother, Andrew Mountbatten-Windsor, had been earning private income by renting out three cottages at Royal Lodge despite paying only a symbolic rent.
Speaking to GB News, a palace spokesperson said, "In order constantly to improve and to encourage wider understanding of our accountability, the Royal Household has been considering options to enhance this transparency still further – and can today announce additional measures in keeping with our public service priorities.”
They continued, "To put it simply: we continue to modernise and evolve. 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.”
The statement added, "While this is the first time a Monarch has shared this personal tax information, you may recall it was similarly released by His Majesty when he was Prince of Wales. The decision to do so as Sovereign has come at the express wish of The King himself, as part of the adaptations carried across since Accession."
It is worth noting that the late Queen Elizabeth II started voluntarily paying taxes on her private income in 1993, but the exact figures remained undisclosed by Buckingham Palace.
