King Charles III will not live in Buckingham Palace after its expensive renovation

London – British King Charles III will not live in Buckingham Palace even after the completion of the costly ten-year renovation next year. This was announced today by representatives of the royal family according to news agencies. They also published for the first time how much King Charles has paid to the state in taxes over the past years. Since ascending to the throne in 2022, the British monarch has paid a total of over £30 million (845 million crowns) in taxes.

The king's decision not to reside in Buckingham Palace means that this central London landmark will cease to serve as the main residence of the British monarchy after nearly 200 years.

The king has decided that when the £369 million renovation of Buckingham Palace is completed next year, he will continue to live at Clarence House, his long-standing London residence near the palace.

Charles III and his late mother, Queen Elizabeth II, have not stayed overnight in the palace since 2019. However, Charles III will retain private rooms in Buckingham Palace, which may serve as accommodations. The residence will also remain the main venue for ceremonial and official events, including receiving foreign visitors.

Royal officials also announced today that the king paid £12.9 million in taxes in the financial year 2024/25, compared to £11.7 million the year before. This data has been published for the very first time.

According to Reuters, Charles III ranks among the 100 leading taxpayers in Britain.

Calls for greater transparency in royal finances began to grow after scandals surrounding the king's brother, Andrew Mountbatten-Windsor, formerly known as Prince Andrew. Charles had already been declaring how much tax he paid when he was the Prince of Wales.

British monarchs are not legally required to pay income tax, inheritance tax, or capital gains tax. However, Charles III, like his mother after 1993, has voluntarily done so without revealing specific amounts.