Overview
- The palace disclosed on Thursday that King Charles paid £12.9 million in 2024/25 and has paid more than £30 million since 2022, while Prince William paid £7.76 million in 2024/25 and more than £20 million cumulatively.
- The Sovereign Grant report says the royal household budget will fall from about £132 million to £99.9 million over the next five years and confirms Buckingham Palace will be used mainly for ceremonial and state functions after a reported £369 million renovation.
- Tax and accounting experts say the published totals are selective because they do not show underlying taxable income, the split between income tax and capital gains tax, or what deductions were claimed, making independent assessment impossible.
- The disclosures follow months of scrutiny of royal property deals and reporting on Prince Andrew that increased political pressure and prompted National Audit Office and parliamentary interest in royal finances.
- The palace plans annual publication of these totals, but campaigners and MPs say they will press for fuller accounts and parliamentary scrutiny, a change that could affect public trust and future oversight of royal spending.