King Charles will not make Buckingham Palace his primary residence after its extensive refurbishment is completed next year, royal officials announced. This decision marks a significant shift, ending nearly 200 years of the palace serving as the British monarch's main home. Instead, Charles will continue living at Clarence House, his long-standing residence in London, while Buckingham Palace will remain the official venue for ceremonial and official functions.
The refurbishment, which began in 2017 at a cost of £369 million, aims to modernize the palace's aging infrastructure, including electrical systems and plumbing. Despite the renovations, the palace will still serve as the headquarters of the monarchy, with plans for increased public access once the work is finished. James Chalmers, the king’s treasurer, emphasized the palace's continued role as a ceremonial hub, stating that the sovereign's standard will proudly fly from the roof whenever the king is in London.
In a related financial disclosure, King Charles revealed that he paid £12.9 million ($17 million) in taxes for the 2024/25 fiscal year, making him one of the top taxpayers in Britain. Although monarchs are not legally required to pay income or capital gains taxes, Charles has voluntarily done so, following the precedent set by his mother, Queen Elizabeth II, after 1993. This move is part of the royal family's commitment to greater financial transparency amid public scrutiny following the queen's death in 2022.
The decision to forgo living in Buckingham Palace reflects a broader trend of modernization within the monarchy, as well as a response to public sentiment regarding royal finances and responsibilities. With the palace still expected to attract around 700,000 visitors annually, officials have hinted at enhancing public engagement with the historic site, although specific plans remain undisclosed.