Thoughts on the King and Prince of Wales tax disclosures

[Kirschcherries]

According to the BBC KC and PW have released details of the tax they paid in the 2024-2025 Tax Year.
https://www.bbc.co.uk/news/articles/c8x2151y8q4o

Apparently KC is in the Top 100 tax payers - The Sunday Times Rich List for 2025 placed him at 238.

I think it’s good they have done this and believe they are entitled to use the same legal tax avoidance measures everyone else can use. I don’t think we have a right to know every detail of their personal wealth but this is balanced against transparency regarding the Sovereign Grant and Duchies.

As I understand it (and I hope @Serenster will correct me) Magna Carta is a treaty that was signed initially in 1215 between John and the barons when they strenuously objected to his demands (in particular for taxes to raise money for war against France).

It included protection for the Church, and the right to swift and impartial justice for all, but most of it dealt with the feudal rights of the Crown over the barons.
The intent was to limit the powers of the king to act against the barons and other men.
As it happened, neither side stood by it and it was annulled, leading to civil war.

It was reinstated in 1217 alongside the Charter of the Forest (one of the reasons it became known as Magna Carta) and the two were following that ratified by each monarch on accession, until the point where they became less relevant as Parliament had passed more numerous relevant laws.

Most of its clauses are no longer relevant today - but I do love that the ones that are form in effect the earliest 'Bill of Rights' in existence.

To put it in a nutshell, and specifically:

Magna Carta was issued in June 1215 and was the first document to put into writing the principle that the king and his government was not above the law. It sought to prevent the king from exploiting his power, and placed limits of royal authority by establishing law as a power in itself.

1215 Magna Carta
First granted at Runnymede by King John in 1215 as a concession to his rebellious barons (it promised the protection of church rights, protection for the barons from illegal imprisonment, access to swift justice, and limitations on feudal payments to the crown). Magna Carta is the prime example of the contractual nature of government, meaning that a ruler can only govern with the assent of his or her subjects.
This first Magna Carta was annulled by Pope Innocent III at King John’s behest 10 weeks later, starting the first Barons War.

1216 Magna Carta
Upon King John’s death in October 1216, his 9 year old son became King Henry III. Henry’s government decided to resurrect the 1215 Magna Carta (Some of the clauses were removed, including those unfavourable to the Papacy and clause 61, which had set up the council of barons). The rebel barons were encouraged to come back to the King’s cause in exchange for the return of their lands. The move was not successful and opposition to Henry’s new government hardened.

1217 Magna Carta
A great council was called in October and November to take stock of the post-war situation; this council is thought to have formulated and issued the Charter of 1217. Henry’s government reissued the 1216 Magna Carta (Some additional clauses were added to protect the rights of the barons over their feudal subjects, and the restrictions on the crown’s ability to levy taxation were watered down).

1225 Magna Carta
In exchange for agreeing to support Henry, the barons demanded that the King reissue Magna Carta. (Almost identical to the 1217 version, but the King declared that it was issued of his “own spontaneous and free will” and confirmed it with the royal seal, giving it much more authority than the previous versions).

1297 Magna Carta
Edward I reissued the 1225 Magna Carta, in return for a new tax. It is this version which remains in statute today, although with most articles now repealed

1300 Magna Carta
Last confirmation of the 1225 Magna Carta drawn up by the Royal Chancery, and distributed under the King’s seal, to the counties and cathedrals of the country. (It represented the compromise that Crown and Barons could tolerate. It confirms to the Cinque Ports all their liberties and free customs. It became the recognised standard thereafter.)

That is on the parliament.uk website and is carefully worded:

The principle is that 'the king and his government' are not above the law.

Magna Carta aimed to 'prevent the king from exploiting his power, and placed limits of royal authority' - as I was trying to explain (rather more wordily) above.

Nowadays, of course, in a constitutional monarchy, the king's powers are significantly curtailed, and parliament is pre-eminent.

Sorry for my plop of information! It’s a particular interest of mine , particularly the time period.
these cliff notes I took from the Magna carter library are what I used to write my dissertation when I was younger,
in a nutshell you are broadly correct.

Thanks @jeffgoldblum

I find it really interesting how these things develop and become part of legislation (and also language).

It's not a part of history I know a lot about, so appreciate your dump (I had tried to limit my post!).

I’ve seen one of the four original surviving copies of 1215 Magna Carta, at Lincoln Castle. It was quite a wow moment!

I too find it fascinating how these things happen, particularly when it’s still in use ( only 3 now) today! And the fact that certain terms are still widely used .

That would be a wow moment! I'd love to see it.

If ever you're ever early for a train from Euston, it's worth popping into the British Library to see their copy!

Oh thanks 🙏

Well, he hasn't been above the law until recently - Magna Carta.

Magna Carta was issued in June 1215 and was the first document to put into writing the principle that the king and his government was not above the law. It sought to prevent the king from exploiting his power, and placed limits of royal authority by establishing law as a power in itself.

So to make it clear. The reason I raised the Magna Carta was to show the irony of a document, over 800 years ago, that was primarily motivated by limitations on feudal payments to the Crown. So extremely relevant today, still, and symbolic of liberty.

Have you missed all the previous posts? Why are you still bringing it up to me!
its a huge derail as it is ! ( apologies to other posters for my own actions but it’s my interest!)
it’s not relevant and it’s probably boring to almost everyone else here.

£12.9 million of tax on a £272m fortune. 4.7%. That’s less than a minimum wage worker is made to pay.

What? 🤣

A minimum wage worker pays 20% on income.

8% NI

Postgrad loans, if applicable.

if you earn £100,000 in the UK your tax rate is effectively 60%.

The king only has to pay 4.7% though, so that’s fair.

Annual Income <> Total wealth

His tax rate last year was 4.7%.

how is that right?

His total net worth is projected at £600M so doubtful he earned £272M last year alone. If so, it must have been a very good year.

His tax rate was 4.7%. That’s disgraceful.