\n \n King Charles will not live at Buckingham Palace after its 10-year refurbishment finishes next year, royal officials said on Thursday, ending nearly two centuries of the central London landmark serving as the British monarch\u2019s primary residence.\n <\/p>\n \n Officials at the same time disclosed the king paid \u00a312.9 million ($17.04 million) in tax in 2024\/25 \u2014 the first time the figure has been made public \u2014 placing him among Britain\u2019s top 100 taxpayers.\n <\/p>\n \n Members of the royal family have promised greater transparency about their finances amid growing criticism following the death of Queen Elizabeth in 2022.\n <\/p>\n \n Charles decided to continue living at Clarence House, his longstanding London home nearby, when the \u00a3369 million refurbishment of Buckingham Palace concludes next year. The project includes replacing ageing electrical wiring, pipes and heating.\n <\/p>\n \n When work started in 2017, officials had expected the palace to remain the monarch\u2019s primary London residence as it had been since Queen Victoria became sovereign in 1837.\n <\/p>\n \n James Chalmers, the king\u2019s treasurer and keeper of the privy purse, said it would remain the primary venue for ceremonial and official functions including receiving foreign dignitaries.\n <\/p>\n \n \u201cIt is and will remain monarchy HQ, the crown jewel of our national buildings, with the sovereign\u2019s standard flying proudly from the roof whenever his majesty is in London,\u201d he told reporters.\n <\/p>\n \n Neither Charles nor the late Queen Elizabeth had stayed overnight at the palace since 2019. The king will maintain private rooms there that could be used as accommodation.\n <\/p>\n \n Some 700,000 people visit the building every year, and there will be greater public access, Chalmers said, without providing details.\n <\/p>\n \n By law, the British king is not obliged to pay income, capital gains or inheritance tax, but Charles, like his mother did after 1993, has voluntarily done so without disclosing the amounts.\n <\/p>\n \n Charles, like all monarchs since 1399, gets a private income from the vast Duchy of Lancaster estate \u2014 \u00a325.2 million in 2025\/26 \u2014 as well as from his other holdings and investments.\n <\/p>\n \n Chalmers said the king paid \u00a311.7 million in tax in 2023\/24 and more than \u00a330 million in taxes since becoming king in 2022.\n <\/p>\n \n He also receives money from the government, known as the Sovereign Grant, to pay for staff, royal palaces and travel. That amount will be \u00a3137.9 million in 2026\/27.\n <\/p>\n King Charles III celebrates monarch birthday\n <\/p>\n Thousands gathered outside Buckingham Palace to watch the annual Trooping of the Color celebrating the official birthday of King Charles III.<\/p>\n<\/div><\/div>\n
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