British monarchs are legally exempt from paying certain taxes, though they have paid some duties voluntarily for decades.
They also have no obligation to disclose their private tax bills, but recent scandals surrounding the disgraced former prince Andrew Mountbatten-Windsor have thrust the royal family’s finances into the spotlight.
Charles began releasing his personal tax information when he was heir to the throne, but will become the first monarch to disclose it.
“The decision to do so as Sovereign has come at the express wish of the King himself,” a palace spokesperson said in a statement released late on Saturday to a limited number of British media outlets.
It added that the move was “part of the adaptations carried across” since Charles acceded to the throne in 2022.
“Our aim is to explain all elements of royal finances in a way that further enhances clarity and accessibility, while also placing it in its historical and constitutional context.
“To put it simply: we continue to modernise and evolve.”
Charles’s tax information will be shared on Thursday as part of the release of annual royal financial accounts.
The British royal family has sought to repair its image since damaging revelations around Andrew, Charles’s younger brother, and his ties to the late US sex offender Jeffrey Epstein. (AFP)