King Charles is breaking with long-standing traditions and will no longer reside at Buckingham Palace.
King Charles will not live at Buckingham Palace after its 10-year renovation ends next year, royal officials say. This ended nearly two centuries of the central London landmark serving as the main residence of the British monarch.The King and Queen Camilla will continue to live at Clarence House, their nearby old home in London, when the £369 million refurbishment of Buckingham Palace finishes in March 2027. The project involves replacing old electrical wiring, pipes and heating systems, many for the first time in 60 years, after concerns about the potential for fire and water damage.
James Chalmers, the King’s Treasurer and Keeper of the Privy Purse, said Buckingham Palace would remain the main venue for ceremonial and formal occasions, including state banquets, garden parties and meetings with the Prime Minister.
“It is and will remain the main seat of the monarchy, the crown jewel of our national buildings, where the King’s flag flies proudly from the roof whenever His Majesty is in London,” Chalmers told reporters.Officials said the decision was made to allow greater public access to the landmark. The palace, which has served as the King’s official London residence since 1837, currently opens its state rooms to visitors every summer and on select dates throughout the rest of the year.
About 700,000 people visit it annually.Neither Charles nor the late Queen Elizabeth have stayed overnight at the palace since 2019. The king will maintain private rooms there that can be used as accommodation.
The king reveals that he has paid taxes
In a separate development, royal accounts showed that Charles became the first monarch to release tax payments. He paid £12.9m in tax for 2024-25 and £11.7m in 2023-24, placing him in the top 100 taxpayers in Britain.Chalmers said the king has paid more than £30 million in taxes since becoming king in 2022.By law, the British monarch is not obligated to pay income, capital gains or inheritance tax, but Charles, like his mother did after 1993, did so voluntarily without disclosing the amounts.The calculations also showed that the Sovereign Grant, which provides government funding for the monarchy, will fall from £137.9 million to £99.9 million in 2027-28 as the refurbishment of Buckingham Palace finishes.
The new figure will be almost double the base grant of £51.8 million in 2024-25.This increase will help defray the accumulated maintenance costs of the occupied royal palaces, enhance cybersecurity, and install energy-efficient heating systems. Around £11 million has also been allocated to replace boilers nearing the end of their lifespan at Windsor Castle.Prince William, heir to the throne, paid £7.76 million in taxes in 2024-25, his office said.
