King Charles III will not take up residence at Buckingham Palace once its decade-long renovation is completed next year, royal officials confirmed Thursday.
The king and Queen Camilla will continue living at Clarence House, his longstanding London home situated near the palace.
James Chalmers, the king’s treasurer and keeper of the privy purse, confirmed the palace would retain its role as the primary venue for ceremonial and official functions.
Chalmers told reporters: “It is and will remain monarchy HQ, the crown jewel of our national buildings.”
Buckingham Palace has served as the British monarch’s primary London residence for nearly two centuries, dating back to Queen Victoria’s reign beginning in 1837.
The 775-room building has historically served as both the official royal residence and a working hub for the royal bureaucracy, as well as hosting state dinners for foreign leaders.
A major renovation of the palace began in 2017 and is expected to conclude next year, with the total projected cost reaching 369 million pounds, equivalent to approximately $486.7 million.
The project covers the replacement of aging electrical wiring, pipes, and heating systems throughout the historic structure.
Around 700,000 people visit the building annually, and officials indicated there would be greater public access following the renovation’s completion, though no specific details were provided.
On Thursday, Charles also released details of his personal tax contributions for the first time since becoming monarch in 2022, disclosing that he paid 12.9 million pounds in tax during the 2024/25 financial year.
That figure places the king among Britain’s top 100 taxpayers, a notable distinction given that by law the British monarch is not legally obligated to pay income, capital gains, or inheritance tax.
Charles has followed the precedent set by his mother, Queen Elizabeth II, who began voluntarily paying taxes after 1993, though neither disclosed specific amounts until now.
The British monarch receives the Sovereign Grant from the government to cover staff, royal palaces, and travel, but Charles also draws millions in private income from the Duchy of Lancaster estate and other investments, a tradition stretching back to 1399.
Prince William, heir to the throne, separately paid 7.76 million pounds in tax during the same 2024/25 period, according to the disclosures released alongside the king’s figures.
The announcements arrive amid a difficult period for the royal family, whose reputation has been strained by months of damaging headlines surrounding the links between the former Prince Andrew, now known as Andrew Mountbatten-Windsor, and convicted sex offender Jeffrey Epstein.
