King Charles has revealed his personal tax contributions for the first time, paying £12.9 million in income and capital gains tax for the 2024-25 tax year, Buckingham Palace announced on Thursday night. This marks a "historic first" for a reigning monarch, with the figure up from £11.7 million in 2023-24. Since his accession in 2022, the King has paid over £30 million in tax.
How the King's Tax Compares to Top UK Taxpayers
The Sunday Times published its list of the top 100 UK taxpayers in January 2025, featuring celebrities such as pop star Harry Styles (£24.7 million), author J.K. Rowling (£47.5 million), and boxer Anthony Joshua (£11 million). The King's £12.9 million payment would place him among the top contributors, though below the top 10.
The top 10 UK taxpayers according to the Sunday Times list are:
- Fred and Peter Done and family (Betfred) – £400.1 million
- Alex Gerko (trader) – £331.4 million
- Chris Rokos (bond trader) – £330 million
- Stephen Rubin and family (Chair of Pentland Group) – £325.6 million
- Denise, John, and Peter Coates (Bet365) – £227.1 million
- Peter Hargreaves (Hargreaves Lansdown co-founder) – £210 million
- Tom Morris and family (Home Bargains) – £209.1 million
- Sir Tim Martin (JD Wetherspoon pubs) – £199.7 million
- Mike Ashley (retail) – £175.9 million
Historic Move for Transparency
Robert Watts, compiler of the Sunday Times list, said: "This is an increasingly diverse list, with Premier League footballers and world-famous pop stars lining up alongside aristocrats and business owners selling pies, pillows and baby milk. This year there's been a big jump in the amount of tax we've identified - largely because of higher corporation tax rates."
Palace insiders lauded the King's decision as "another step forwards in the evolution and modernisation". They 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."
