King Charles decides not to live at Buckingham Palace after £369m renovation, discloses £12.9m tax payment

King Charles III has decided not to make Buckingham Palace his London residence after the completion of a £369 million renovation programme, royal officials announced on Thursday. The move ends a tradition stretching back to 1837 when Queen Victoria first adopted the palace as the sovereign's primary home. The King and Queen Camilla will continue to live at Clarence House, where Charles has resided since 2003.

Palace renovation project

The decade-long overhaul of the 775-room landmark began in 2017 to replace aging electrical wiring, pipes and heating systems, some dating from the 1950s. Initially, officials expected the palace to remain the monarch's London residence. The project is due to finish next year.

It is and will remain monarchy HQ, the crown jewel of our national buildings.

Enhanced public role

Following the King's decision, Buckingham Palace will focus on ceremonial and official functions, including state banquets and receiving foreign dignitaries. Around 700,000 people visit annually, and officials promised greater public access without detailing plans.

The King and Queen will not make Buckingham Palace a personal residence to reflect Their Majesties' desire that the Palace remain the ceremonial centre of royal life, the primary workplace of the royal household and a national heritage asset with greater opportunities for public access.

Tax disclosure

Separately, King Charles revealed he paid £12.9 million in tax for 2024/25, the first time a British monarch has publicly disclosed the figure. James Chalmers, the Keeper of the Privy Purse, said the payment places the King among Britain's top 100 taxpayers. The sovereign is exempt from income, capital gains and inheritance taxes by law but Charles, like his mother Elizabeth II after 1993, pays voluntarily. He also paid £11.7 million in 2023/24 and over £30 million since acceding in 2022.

Reactions

The announcement drew sharp comments. The Daily Express warned the King "risks making the worst mistake of his reign". Anti-monarchy group Republic protested: "The government agreed to spend £370 million to renovate Buckingham Palace, and now Charles doesn't want to use it", said Graham Smith, its leader. The decision also evokes the historical echo of Queen Elizabeth II, who reportedly preferred Clarence House but was told by Winston Churchill that "the sovereign of England lives at Buckingham". King Charles's choice signals a modernising break with the past.