Prince William has been urged to 'read the room' and be more open about his finances after releasing his tax bill for the first time since becoming heir to the throne, but royal experts say the disclosure does not go far enough.
Tax Bill Revealed Amid Criticism
The Prince of Wales initially resisted publishing his tax payments when he inherited the Duchy of Cornwall. However, this year's royal financial report showed he paid £7.76 million in income and capital gains tax for 2024-25, down from £8.34 million the previous year. His income from the duchy was £21.6 million in 2025-26, and his total assets exceed £1.2 billion.
Former BBC royal correspondent Jennie Bond told the Mirror: 'I think it was a bit of an own goal by William not to have followed his father's example about revealing his tax bill until now. Charles made his public when he was Prince of Wales, so it now looks as if William has been forced to do so. That's a shame.'
Demand for Full Financial Picture
Bond criticised the limited scope of the disclosure, noting that the tax paid by the King and Prince is 'rather meaningless' without the full picture of total income, expenses, and dividends. She added: 'I know William is a fiercely private man, but he does need to read the room and be more open about his finances. His Duchy is professionally run, the books are officially audited – so there should be nothing to hide.'
The royal family's wealth has drawn scrutiny amid a cost-of-living crisis. Bond questioned why the Sovereign Grant is set to nearly double within three years, saying: 'It doesn't look great when the majority of people are struggling with the high cost of living.'
Dartmoor Prison Rent Diverted to Community
William has decided to no longer personally benefit from the £1.5 million annual rent from the abandoned Dartmoor Prison, which has been empty since July 2024 due to high radon levels. From 2026-27, the sum will be removed from his Duchy income and redirected to a community-led regeneration fund for the nearby town of Princetown.
The duchy signed a £37 million deal in 2022 to lease the prison to the Ministry of Justice, but the category C facility was closed after toxic radon gas was detected. Bond praised the move but noted it would have been better if done before 'all the bad publicity.' She said: 'He could have just given the money back to the Treasury, but in this way, he is helping people who live on his land, and he can measure the impact of his decision.'
Broader Royal Property and Transparency Issues
The revelations come amid ongoing debates about royal finances and property holdings. King Charles has decided never to live at Buckingham Palace despite a £369 million taxpayer-funded refurbishment, opting to remain at Clarence House. Speculation suggests William, who recently moved his family to Forest Lodge in Windsor, may also avoid the palace when he becomes king.
Bond argued the royal family has 'far too many properties,' which sits awkwardly with William's campaign to end homelessness. She suggested renting out or selling empty or rarely used residences, while acknowledging security concerns.
William has already taken steps to use his wealth for public good, including selling 20% of the Duchy to fund community and environmental projects. Bond described this as 'quite a radical move,' adding: 'He is already putting his money where his mouth is.'
