Prince William is advised by a royal expert to be more transparent about his financial matters and follow his father’s example of sharing tax information. The Prince of Wales, initially reluctant to disclose his tax payments, eventually revealed that he had paid over £1.2 billion in assets and voluntarily paid £21.6 million in taxes from the Duchy of Cornwall in the 2025-26 financial year.
William, who receives income from the Duchy of Cornwall, pays taxes on this income, with previous tax bills amounting to £7.76 million and £8.34 million in previous years. While the Palace emphasized clarity and transparency in financial matters, royal expert Jennie Bond suggested that more openness is needed to provide a complete picture of the royal family’s finances.
In a move to benefit the local community, William has decided to redirect the £1.5 million annual rent from Dartmoor Prison towards regeneration projects instead of personal gain. This decision follows an investigation revealing the leasing of Dartmoor Prison and other agreements made by the Duchy of Cornwall.
Apart from financial disclosures, it has been announced that William will not reside at Buckingham Palace during his reign, with the palace remaining the operational center for the monarchy. Jennie Bond questioned the necessity of multiple royal properties, suggesting alternative uses for unused residences to address social issues like homelessness.
William’s commitment to community and environmental projects, such as selling part of the Duchy for funding, demonstrates a genuine effort to make a positive impact. By redirecting funds from the derelict prison to local initiatives, William aims to contribute to the well-being of those living on his land.