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.

I note that the core part mentioned by @simpsonthecat has been increased including maintenance of occupied royal palaces. This is another important aspect that should be highlighted for tax payers to consider.

There are a number of non-working royals living in a luxurious central London location. Why should the tax payer be contributing to the maintenance of their living quarters?

There are a number of non-working royals living in a luxurious central London location. Why should the tax payer be contributing to the maintenance of their living quarters?

In the same way that the Yeoman Warders and the Governor of the Tower of London have the maintenance of their living accomodation at the YTower of London paid for by the Royal Historic palaces charity. Maintenance of the fabric of the buildings is a legal obligation on the landlord (and the same for anyone who rents a property).

This space could be used for staff, civil servants, diplomats or other accredited people that are making a contribution to the country. I do not see why the tax payer should subsidise the Michaels, Beatrice, Edoardo, Eugenie, Jack ...

I was more wondering about the set up. Idle amusement wondering if, when she decided to start paying tax, they gave the Queen a National Insurance number and random things like that.

William presumably has one from his air ambulance job as that was paid work (even though he donated the salary) and from the military beforehand. Charles also from his military days, but QEII would have had no need for one prior to paying tax.

Totally agree

B&E non-working Royals yet doing very nicely thank you with central apartment and house
They wouldn't think to give it up voluntarily would they, oh no
All the Royals grab onto every benefit they possibly can and fight tooth and nail to keep it

I think that’s one of the big changes the royals are going to have to get used to.

When the changes to the peppercorn rents happened and QEII took over paying the rents for the Michaels and others it was just accepted that she was paying from private income as it wasn’t something covered by the civil list.

Now people see more of the sovereign grant and it covering things like maintenance it’s a more obvious cost to the tax payer for those accommodations, even if the specific rent amounts still come from some private income.

Whatever your exact opinion there is a strong sense of lack of confidence in matters surrounding the royals

Yes, @BrandiedAromatics, and while any kind of transparency's better than none, thhe spinning we've seen over the years suggests thhere's a good reason for that lack of confidence

As PPs have said there's no detail at all, and speaking of detail does anyone know if the 2027/28 Sovereign Grant figures take account of the uplift for palace renovations, which I believe were said to end in 2027?

That is an interesting point. NI No are issued automatically at 16 but it’s also straightforward to request an NI number if you move to the UK to live and work. Note:Evidence of identity etc. may not be straightforward.

I pay a higher percentage of my income in tax than Prince William.

Based on the figures disclosed, he received £22.9 million from the Duchy of Cornwall in 2024–25 and paid £7.76 million in income and capital gains tax after deductions. That works out to an effective tax rate of around 34%.

A couple of inaccurate assumptions in there.

First, the Duchy income covers the expenses of the Kensington Palace offices and staff, so only income after this is excluded is taxed.

Secondly, the Duke of Cornwall does not pay capital gains tax on income from the Duchy, as he does not benefit from capital sales (all profit from sales goes back into the Duchy), only the annual revenue. Capital gains tax will be on other personal income.

There is more info in the 2nd BBC article, a pp posted, showing - the Royal Household receive £99.9m a year from 2027-2028. Three years ago, the figure was £51.8m.

The extra money will be used to pay for the upkeep of historic buildings, strengthen cyber security at royal residences and support the transition to green energy, with £11m earmarked to replace boilers at Windsor Castle.

Meanwhile, the accounts show that the main source of annual public funding for the Royal Household - the core element of the Sovereign Grant - will nearly double within three years to just under £100m by 2027-28.

Why is my tax funding this talentless shower? At least Bezos set up a company and earned his vast wealth. At least people can choose whether to follow football and contribute to the Beckham coffers. I don't know why we have to pay for these accidents of birth - the Andrew debacle shows how our money may be used by these unscrupulous chancers.

A bit pointless really as we don't know how much he has! As pp have said, smoke and mirrors and good PR

No uplift for BP in 27/28 but now fixed at 20.5% of CE Profits until 2032
A big uplift for them from 15%

It's the beginning of the end for the monarchy.

Thanks, BrandiedAromatics; I read that, but was thinking more of the very specific uplift which was granted for Buck House renovations and wondering what they'd do when the work was completed - especially in light of the Sovereign Grant being allowed to go up but never down

The article appears to suggest they've now created other things that uplift is "needed for", but I don't want to assume that without further information

And for all the talk about what's been paid in tax, it's worth remembering that all this is purely voluntary ...

No uplift for BP in 27/28 but now fixed at 20.5% of CE Profits until 2032
A big uplift for them from 15%

Edited to add I posted before seeing this, @simpsonthecat, and if it's correct the appropriate words seem to be "how convenient"

That's my point—we don't know, and that's exactly because they aren't fully transparent. I mentioned CGT because the £7.76m covers both income tax and capital gains tax, so it isn't simply tax on the Duchy income alone. That means we can't calculate his exact effective income tax rate from the Duchy. Even allowing for legitimate deductions such as staff costs and business expenses, the published figures suggest his overall effective tax rate is lower than many ordinary higher-rate taxpayers. Until they publish a full breakdown, we're left making informed assumptions rather than knowing the full picture.

But keep on defending them you are obviously a supporter and fan

No uplift for BP in 27/28 but now fixed at 20.5% of CE Profits until 2032

Presumably debated and passed by in Parliament, as is required for any increase in percentage by the Sovereign Grant Act?

The point is that you don't have the information, and you left out two large pieces of (known) information in your assumption.

You do not have the information to make the statement you did at the beginning of your post regarding the PoW'a rate of tax in relation to yours.

I'm not a fan of any one person, just of facts and accuracy, and detest deliberate misleading statements.

We need more transparency on the royals finances! , do they pay tax ? How much ?

we receive some information

no not like that!! 🙄

Thanks to Andrew public scrutiny has increased and the baying mob needs something to keep them happy. The accounts will still be opaque and this information will be what is believed can be got away with

I have no idea and that doesn't make it alright anyway because the Royal Trustees defended it to the hilt.

The post 2027 core funding has risen dramatically and not just in line with inflation since 2012
The new sum is double the core grant of 2024/25

No one from the palace ever answers WHY?
No wonder Charles is putting out namby pamby statements of what he pays in tax to shut us all up

And yes, my only option is to write to my MP which I will be doing

I would prefer an answer as to why the core part of the Sovereign Grant has doubled

After Charles, get rid of the lot of them. Open the palaces for tourism.

The lack of clarity is absolutely deliberate! Don’t kid yourself it’s anything but 🙄

I just don't understand it. There are very very many people out there who haven't had a pay raise since before covid, and since covid everything has gone up massively
There are people who really struggle doing two or three jobs and yet this lot just take take take. They increase their wealth minute by minute and are given more from the Treasury rubber stamped by successive useless governments

They will be the architects of their own downfall through sheer greed