King Charles to remain at Clarence House after Buckingham Palace refurbishment
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King Charles III will continue living at Clarence House while Buckingham Palace undergoes a £369 million renovation, and he disclosed paying £12.9 million in taxes for 2024-25.
King Charles III will not move into Buckingham Palace after its decade-long refurbishment ends next year, royal officials said on Thursday. The monarch and Queen Camilla will stay at Clarence House, their long-standing London residence, while the palace is upgraded.
James Chalmers, the king’s treasurer and keeper of the privy purse, said Buckingham Palace will remain the primary venue for ceremonial and official functions, including receiving foreign dignitaries. > "It is and will remain monarchy HQ, the crown jewel of our national buildings," Chalmers told reporters.
The renovation, which began in 2017, is expected to cost about £369 million and includes replacement of electrical wiring, plumbing and heating systems. The 775-room building, the official London home of British monarchs since Queen Victoria in 1837, also houses royal offices and hosts state events. Officials said the work will allow greater public access, though details were not provided.
On the same day, the king released his personal tax details for the first time since ascending the throne. He paid £12.9 million in taxes for the 2024/25 fiscal year, placing him among the top 100 taxpayers in Britain. By law the sovereign is exempt from income, capital gains and inheritance taxes, but Charles, following the practice of his mother Queen Elizabeth II, has voluntarily paid them.
The monarch also receives private income from the Duchy of Lancaster estate and other investments, as has been customary for British sovereigns since 1399. Prince William, the heir apparent, reported tax payments of £7.76 million for the same period.
The announcements come amid ongoing scrutiny of the royal family following recent media coverage of Prince Andrew’s associations with convicted sex offender Jeffrey Epstein.