Prince William is identified as one of the highest taxpayers in the UK, contributing around £7 million annually in income tax. The majority of his income, derived from the Duchy of Cornwall, a historic private estate valued at £1.1 billion, amounts to approximately £20 million per year. Despite not being legally obligated, Prince William voluntarily pays the top marginal tax rate of 45% on his personal earnings, following an agreement with the Treasury established by Queen Elizabeth II in 2013.

In alignment with his father King Charles, Prince William reported an income tax payment of £5.9 million on the £23 million received from the Duchy during the previous financial year. The Duchy of Cornwall, originating in 1337 under King Edward III, currently spans between 2,000 to 3,000 properties across 23 counties in England and Wales, covering an estimated 130,000 to 140,000 acres.

During his inaugural year overseeing the estate, Prince William saw a record surplus of £23.6 million, with an estimated tax liability ranging between £5 million and £7 million. Recent investigations have raised concerns regarding the transparency of royal finances, particularly concerning the Duchy’s financial interactions with public institutions. The estate has been reported to generate revenue through charges imposed on entities like the army, navy, NHS, and schools for access to their lands and waters.

While these practices are lawful, they have sparked debates on whether taxpayer-funded bodies should financially support a private royal estate. A spokesperson from Kensington Palace confirmed that Prince Charles consistently pays the highest rates of income and capital gains tax on all personal income, including earnings from the Duchy.