King Charles III will not move into Buckingham Palace after its long-running renovation project is completed next year, royal officials said on Thursday, marking a major shift in the role of the historic building that has served as the British monarch’s primary residence for nearly two centuries.
The announcement came alongside the first public disclosure of the king’s tax payments, part of efforts by the royal family to increase financial transparency.
Buckingham Palace to remain official headquarters
Buckingham Palace has been undergoing a £369 million refurbishment since 2017. The project includes replacing ageing electrical wiring, plumbing systems and heating infrastructure, per a report by NDTV.
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Despite the completion of the work next year, King Charles has decided to continue living at Clarence House, his long-time London residence located near the palace. However, Buckingham Palace will continue to host major state and ceremonial events.
James Chalmers, the king's treasurer and keeper of the privy purse, was quoted as saying by NDTV that the building would continue to serve as the centre of royal duties.
"It is and will remain monarchy HQ, the crown jewel of our national buildings, with the sovereign's standard flying proudly from the roof whenever his majesty is in London," he told reporters.
Royal officials said the king would still maintain private rooms at the palace for occasional use. Neither Charles nor Queen Elizabeth II had stayed overnight at Buckingham Palace since 2019.
King’s tax details made public
Per NDTV, officials also disclosed that King Charles paid £12.9 million in tax during the 2024/25 financial year, the first time the amount has been made public.
According to officials, the king paid £11.7 million in taxes in 2023/24 and more than £30 million since ascending the throne in 2022.
Charles receives private income from the Duchy of Lancaster estate, which is expected to generate £25.2 million in 2025/26.
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The king also receives government funding through the Sovereign Grant, which supports royal staff, travel and palace maintenance. The grant will reach £137.9 million in 2026/27 before being reduced.
"This is not a blank cheque," Chalmers said, adding there were safeguards in place to ensure the amount was proportional.
Prince William, the heir to the throne, also paid £7.76 million in taxes during 2024/25, according to his office.
FAQs:
Will King Charles live in Buckingham Palace after renovations?
No, King Charles will continue living at Clarence House.
What will Buckingham Palace be used for?
The palace will remain the main venue for state events, ceremonies and official royal functions.
