King Charles to forgo Buckingham Palace residence after refurbishment

Royal officials have reported that King Charles will not live in Buckingham Palace after its 10-year refurbishment finishes next year. This ended nearly two centuries of the central London landmark serving as the British monarch's primary residence. The King and Queen Camilla will continue to live at Clarence House, their longtime London home nearby, when the £369 million refurbishment of Buckingham Palace concludes in March 2027. The project includes replacing ageing electrical wiring, pipes and heating systems, many for the first time in 60 years, after concerns about potential fire and water damage. James Chalmers, the King's treasurer and keeper of the Privy Purse, said Buckingham Palace would remain the primary venue for ceremonial and official functions, including state banquets, garden parties and audiences with the prime minister. "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," Chalmers told reporters. The decision was taken to allow greater public access to the landmark, officials said. The palace, which has served as the official London residence of the sovereign since 1837, currently opens its State Rooms to visitors each summer and selected dates throughout the rest of the year. Some 700,000 people visit annually. Neither Charles nor the late Queen Elizabeth had stayed overnight at the palace since 2019. The King will maintain private rooms there that could be used as accommodation.

King reveals tax payments

In a separate development, the royal accounts showed Charles has become the first monarch to release their tax payments. He paid £12.9 million in tax for 2024-25 and £11.7 million in 2023-24, placing him among Britain's top 100 taxpayers. Chalmers said the King had paid more than £30 million in taxes since becoming sovereign in 2022. By law, the British monarch is not obliged to pay income, capital gains or inheritance tax, but Charles, like his mother did after 1993, has voluntarily done so without disclosing the amounts. The accounts also showed that the Sovereign Grant, which provides state funding for the monarchy, will fall from £137.9 million to £99.9 million in 2027-28 as the Buckingham Palace refurbishment comes to an end. The new figure will be almost double the core grant of £51.8 million in 2024-25. The uplift will help pay for a backlog in maintenance at occupied royal palaces, strengthen cyber security, and install energy efficient heating systems. Some £11 million has also been set aside to replace boilers nearing the end of their life at Windsor Castle. Prince William, heir to the throne, paid £7.76 million in tax in 2024-25, his office said.