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.

Ah cross post puzzled ! 😁

Like any litigation then.

Great minds, jeff

@BrandiedAromatics No one is getting at you, all I was doing is trying to open up the debate.

😁

Indeed

Dan Neidle! Pfft. Hardly a bastion of accuracy.

We are entitled to know everything about their financial affairs as all their money is ours or was historically

he “owns” Cornwall - he didn’t buy it off anyone

And normal people are completely overawed by riches. If they weren't, we wouldn't have the society we've got.

Perhaps we just know very different groups of people.

No offence meant but his record means I would rather take note of what he says than random posters on a forum

All right, thanks OP. I'll rest my case with the Prince Philip article:

According to the legal and royal expert Michael L Nash, author of Royal Wills in Britain from 1509 to 2008, the new legal mechanism was devised after Prince Francis left valuable emeralds prized by Queen Mary to his mistress, the Countess of Kilmorey.

?????

So the King invests his money and earns £4.2m in interest and pays tax on it.

I invest and pay tax on my interest - sadly no where near £4.2m. 😂

A lot of posters seem focused on the amounts involved.

I asked a question that I acknowledge is complex and multi-faceted for a proposal of what should happen if we got rid of the monarchy and made them ordinary citizens. I don’t believe you can divorce the £££ from privacy.

I agree with a pp that the starting point is a full audit.

Is an option that KC becomes Mr Windsor keeps his private wealth and the Duchy of Lancaster but everything else returns to the state? KC could then use lawful tax avoidance to manage his wealth and minimise tax and IHT, like many wealthy people do, but in return KC gets privacy - a right to be forgotten?

Similarly PW becomes Mr Wales and keeps his private wealth and the Duchy of Cornwall but gets the right for him and his family to be forgotten.

Oh yes, Prince Francis of Teck was a very naughty boy🤣
His mother Queen Mary had to work hard at buying back family jewels from his mistress!

Who is he? Never heard of him.

I agree, Basilisk.

I think there should be transparency about the public finances of the monarchy, how those finances are used, and how scrutinised; and there should be a single source for the public to find that information (realistically, few would look, but it would be available).

Alongside that, I think the individuals of the Royal Family should continue to have the same individual right to privacy over their personal finances as anyone else in the country.

I definitely agree about the 'politics of envy' comment. There are posters who make very valid logical anti-monarchist arguments, but arguing against the monarchy because the family happens to be wealthy helps no-one.

So the will was closed to prevent gossip and speculation I.e. on privacy grounds.

Diana’s will is open and I think the prurient nature of the media, social media, commentators and some members of the public meant the significant interest in her will has possibly influenced the applications to hide more recent wills.

It doesn’t take a lot of imagination to realise the level of public dissection, gossip and speculation that would take place on HMTLQ or PP wills if they were made public. I wouldn’t want that when I’m grieving for my Mum and Dad.

Queen Mary was his sister.
His mother left him the emeralds (called the Cambridge Emeralds -they were left to Princess Mary of Teck by her Aunt, Augusta of Cambridge) to her son Francis.
Queen Mary paid for the emeralds as she wanted to keep them in the family. The emeralds are worn by The Queen & The Princess of Wales currently.

With regards to royal wills being sealed - more are un sealed than sealed.
I read Diana’s will years ago. Monarchs wills are sealed which I agree with. Surely they should be afforded privacy in death .
Only monarch to monarch is IHT free. Every other bequest is subject to IHT.

Yes, I am well aware of his background. No offence, but I will have more regard to my personal experience of his past conduct than the views of random posters on a forum 😀

Yes

I didn't know you knew him personally 😮

I find him interesting with a good background

He was still a very naughty boy 🤣

😂 thank goodness for that!

The stupid thing about the renovations is that they wouldn’t have cost that much if they’d been done on the go.

I think the more stupid thing about the renovations is how they came to be twice deemed entirely manageable within the scope of the SG yet somehow ballooned in short order in a manner unquestioned by the supine May administration.

As Prince of Wales, Charles has always paid tax; he has always disclosed the fact that he paid tax on the Duchy of Cornwall's profits (his private income). He also funded charities within his trust.
Paying tax was not required, but he always has done so - since his marriage to Diana - for years and years.
It is old news..

Now, as King, it is not surprising that King Charles discloses more about the taxes he pays on his private earnings from the Duchy of Lancaster.

The earnings and spendings of the Sovereign Grant (which is a minor % of the takings of the vast royal properties which is returned to fund the King's public life and many employees etc. has always been published.

The British Royal Family discloses a lot about it's finances.

It is brilliant that the two trusts, set up hundreds of years ago, provide income to The King and The Prince of Wales, free of political bias. The BRF can show favour to the unpowerful, the unpopular, the environment and those without a voice because they are funded separate to politics.

The British public's taxes do not pay for the private income of The King.

Police protection is provided to all who need it, within the regular budget, including The King. So, taxes contribute to that.