- King Charles and Queen Camilla will not reside at Buckingham Palace after its £369 million renovation, opting to remain at Clarence House for the duration of his reign.
- The government agreed to spend £369 million on refurbishing Buckingham Palace, which Charles now does not wish to use.
- King Charles III has become the first British monarch to disclose the taxes he paid to the government during a briefing on royal finances.
- In the 2024-25 financial year, the king paid £12.9 million ($16.1 million) in income and capital gains taxes, an increase from £11.7 million the previous year.
- This is the first time Charles has released his tax details since ascending the throne after the death of his mother, Queen Elizabeth II, in 2022.
- The king's tax affairs are typically confidential, but Charles chose to disclose them to promote transparency.
- The decision not to reside at Buckingham Palace was made to increase public access, as security concerns would limit visitor numbers if the king lived there.
- Buckingham Palace will remain the operational center of royal life, with the king and queen having access to private rooms within the palace for potential residential accommodation in the future.
King Charles and Queen Camilla have decided not to reside at Buckingham Palace after its £369 million refurbishment, choosing to stay at Clarence House instead.1
This decision aims to enhance public access to the palace, which has served as the official residence since 1837.
"This is both a change from the past and a recognition of the future," said a palace spokesperson.
The renovation, set to be completed in March, addresses aging infrastructure, including cables and plumbing, many of which have not been updated in 60 years.
The King expressed his affection for Buckingham Palace, stating, “His Majesty retains huge affection for Buckingham Palace and a deep respect for its role in royal and public life.”
The palace will continue to function as the operational center of royal life, with the King and Queen having access to private rooms for potential residential use in the future.8
Charles also made headlines by becoming the first British monarch to publicly disclose his tax details, revealing he paid £12.9 million in taxes for the 2024-25 financial year, an increase from £11.7 million the previous year.4
This transparency is notable as the King’s tax affairs are typically confidential.6
The Sovereign Grant, which funds royal duties, will see a temporary uplift due to the refurbishment, but is expected to decrease from £137.9 million to £99.9 million by 2027-28.
“King Charles III and the Queen have decided not to reside at Buckingham Palace following a £369m refurbishment. This decision aims to enhance public access while Charles also becomes the first British monarch to disclose his tax payments.”
The Guardian
BBC
