Prince William’s multi-million-pound income tax bill revealed – putting him in top 0.002 per cent of UK taxpayers

A new report has revealed that Prince William is paying an income tax bill of up to £7 million a year, putting the future king in the top 0.002 per cent of UK taxpayers.

The Prince of Wales has refused to disclose his tax contributions in the past, but he is known to pay the top rate of 45 percent.

The majority of William’s income comes from the Duchy of Cornwall, a private estate worth around £1.1 billion and generating more than £20 million a year.

Questions about tax transparency intensified after it was revealed that the Cornwall estate, along with the Duchy of Lancaster, had made millions by charging public bodies such as the NHS, armed forces and schools for the use of its land.

His father, King Charles III, previously revealed he had voluntarily paid £5.9 million in income tax on his Duchy earnings in 2021-2022, his final year as heir.

However, neither she nor William have publicly disclosed their tax arrangements since then.

William appears to have taken a similar approach to his father, paying the top tax rate of 45 per cent.

William received £23.6 million in 2023-24, his first financial year ruling the Duchy of Cornwall.

Around £13.5 million of this is thought to be taxable, putting William’s total income tax bill at between £5 million and £7 million. According to the Sunday Times.

The Daily Mail has contacted Kensington Palace for comment.

The late Queen Elizabeth II Under a 2013 agreement between Elizabeth and the Treasury, the monarch is not legally required to pay income tax, capital tax gains or inheritance tax.

William is also not legally liable to pay income tax on the money he receives from the dukedom.

The duchy was founded in 1337 by Prince Edward III to provide some money for his son, Prince Edward.