King Charles will reveal how much tax he and Prince William pay to HM Revenue & Customs on Thursday, in a bid to improve transparency and address dwindling public support for the monarchy. The move comes as polling indicates that support for the Royal Family has fallen from a high of 80% in 2012 to just 55% in 2026, while backing for abolishing the monarchy has risen from 13% to 27% over the same period.
Details of the Disclosure
The King hopes to provide “clarity and accessibility” about Royal finances, with the “overall” figures covering the 2024-25 financial year. A Buckingham Palace spokesperson said the decision aims “to encourage wider understanding of our accountability” and “to enhance this transparency still further.” The spokesperson added: “To put it simply: we continue to modernise and evolve.”
Criticism and Unanswered Questions
However, critics argue that publishing the Royal finances will not go far enough, as the figures are unlikely to show how the tax is calculated. Campaign group Republic said the move leaves many unanswered questions and has called for independent authorities to audit and disclose royal tax and income instead.
Republic’s Graham Smith said: “The royals can’t be allowed to self-declare their tax. They’ll spin this as Charles being a huge taxpayer, but the question is why is his income so high? Given royal access and influence the public deserve full disclosure on income, investments and taxes. We need a genuinely independent review of their income, expenditure and taxation. And questions remain about why income tax is voluntary, what they off-set against tax, and why Charles was able to avoid a multi-million pound inheritance tax when his mother died. William also has questions to answer. Why are we effectively paying William and Charles a personal income of more than £20m each from the two Duchies. These are public assets. The main issue remains however: why the monarchy costs the country well over £500m a year, far more than they admit to.”
Legislative Push for Greater Transparency
In a related development, Sian Berry, the Green MP, has announced her intention to attempt to amend the Freedom of Information Act to bring the King and royal household within its scope. This would allow the public a legally enforceable right to ask for information about how the royals operate for the first time.
