Buckingham Palace has disclosed that the king has paid tax of £11.7 million in 2023-24 and £12.9 million in 2024-25. The bulk of this tax liability arises from his income from the Duchy of Lancaster, which for 2023-24 was £27.5 million.

This makes him one of the top 100 taxpayers in the country. Kensington Palace has also disclosed that Prince William paid £7.76 million in tax on the profits of the Duchy of Cornwall.

The king is not legally liable to pay tax. In principle, it makes little sense for the crown to pay money to the crown. Yet by the 1990s it was becoming increasingly anomalous that one of the wealthiest people in the country did not pay tax. This was especially the case when some of that income stems from the Duchy of Lancaster – the monarch’s “private” income, derived from their “private” estate.

As a result, from 1993 onwards, Elizabeth II agreed to pay tax on her private income. The king has renewed this agreement, but this is the first time that a sitting monarch has disclosed their tax bill.

The palace described this decision as part of “the Royal Household’s commitment to transparency”. It brings the monarchy more into line with an increasing expectation for public figures in general to be more transparent about their tax affairs.

Over the past 20 years, it has become expected that the prime minister and the chancellor disclose their tax returns. In following suit, the king is providing an example of how monarchy can change to meet public expectations.

However, unlike other public figures, only the overall tax paid has........

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