King Charles will tomorrow become the first monarch in modern British history to publicly disclose his personal tax bill.
The decision reflects His Majesty's conviction that greater openness about royal finances is "the right thing to do," according to Palace sources.
Buckingham Palace confirmed this evening that the unprecedented announcement will come on June 25, marking a watershed moment for transparency within the institution.
A Palace aide told The Telegraph it was the King's "clear wish and instruction" to subject royal finances to heightened public scrutiny.
The move represents what officials hope will prove a "very significant leap forward" in how the monarchy accounts for its funding.
The King's tax details for the 2024-25 financial year will be released alongside broader documentation explaining how the working Royal family receives its funding.
His Majesty voluntarily pays income tax on all private earnings and capital gains tax on applicable assets, in accordance with the 2023 Memorandum of Understanding on Royal Taxation agreed with the Government.
The Duchy of Lancaster, a private portfolio encompassing land, investments and commercial properties, generated £26.8million for the monarch during 2024-25.
Palace officials intend to provide comprehensive explanations covering the Sovereign Grant, the Duchy, investment returns, trading profits from Balmoral and Sandringham, and personal savings.
The Prince of Wales will simultaneously make his own first-ever declaration of tax arrangements in a separate briefing concerning the Duchy of Cornwall.
Prince William received close to £23million from the hereditary estate during the last financial year and voluntarily contributes at the highest rate of income tax.
The Duchy of Cornwall operates as an independent funding source for the heir to the throne, separate from the monarch's finances.
Its holdings include notable assets such as the Oval cricket ground and Dartmoor Prison.
Tax information for the 2025-26 financial year will follow next year once auditing processes are complete.
Royal household officials characterised the expanded financial briefing as a major advancement in providing factual information to the public.
The initiative aims to demystify the complex arrangements governing how the Crown is funded.
A Buckingham Palace spokesman told GB News on June 20: "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."
The disclosure places royal finances under greater public examination than at any previous point in the institution's history.
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