King Charles will become the first British monarch to publicly disclose his personal tax bill, with Buckingham Palace stating the move is aimed at improving transparency around royal finances. The king's total tax information for the 2024–25 financial year will be released next week alongside other financial reports, including accounts for the sovereign grant (public funding that covers the royal family's official duties) and the Duchy of Lancaster, which provides Charles with an annual income of £26.8 million. The decision stands in contrast to his son Prince William, who has not disclosed the tax he pays on his income from the Duchy of Cornwall since becoming heir to the throne.