King Charles to remain at Clarence House as Buckingham Palace opens to more public access after renovation
King Charles III will not move into Buckingham Palace after its nearly decade-long, 369 million-pound ($487 million) renovation is completed, choosing instead to remain at nearby Clarence House while continuing to use the palace as the monarchy's primary working headquarters.
Royal officials said Buckingham Palace will remain the ceremonial and operational center of the monarchy, with the king and Queen Camilla continuing to conduct official duties there. The decision is expected to allow greater public access to the historic landmark through expanded tours and events.
The announcement came during a royal finances briefing, where Charles became the first British monarch to publicly disclose the taxes he paid while on the throne. The king paid 12.9 million pounds ($16.1 million) in income and capital gains taxes during the 2024-25 financial year, up from 11.7 million pounds the previous year.
The royal family has faced increased scrutiny in recent months over the ongoing controversy surrounding Prince Andrew's association with convicted sex offender Jeffrey Epstein. Officials hope greater transparency and increased public access to Buckingham Palace will support the king's efforts to modernize the monarchy.
Built in the 1820s, Buckingham Palace has served as the London residence of every British monarch since Queen Victoria. The 775-room palace houses royal offices, hosts state banquets and ceremonial events, and has long been the backdrop for major national celebrations and royal appearances.
The extensive renovation project began in 2017 to replace outdated plumbing, electrical wiring and heating systems while preserving the palace for decades to come. Construction is expected to conclude next year.
Charles has lived at Clarence House since becoming Prince of Wales and has decided to continue residing there after the renovation is complete. Officials said the move will allow Buckingham Palace to welcome more visitors while remaining the central hub for royal operations. The palace currently attracts about 700,000 visitors annually.
Alongside the king's tax disclosure, Prince William also released details of his personal taxes. The Prince of Wales paid 7.76 million pounds in income and capital gains taxes during the 2024-25 financial year, down from 8.34 million pounds the previous year.
The unprecedented release of the royal tax figures provides the public with a clearer picture of the personal finances of the king and his heir. While the monarchy receives funding from multiple sources, the king pays taxes on his personal income, including earnings from his privately owned Balmoral and Sandringham estates, as well as capital gains from asset sales.
Royal officials said the decision to voluntarily disclose the king's tax payments reflects a broader commitment to transparency as the monarchy works to strengthen public trust.
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