King Charles III to abandon Buckingham Palace as primary residence after refurbishment
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King Charles III will not return to Buckingham Palace as his primary residence after the completion of its £369 million refurbishment, royal officials confirmed on Thursday, ending nearly two centuries of tradition. The announcement, made as the palace’s decade-long renovation nears its 2027 conclusion, marks a historic shift in the British monarchy’s relationship with its most iconic landmark.
In a separate disclosure, the Palace revealed that King Charles paid £12.9 million ($17 million) in income tax for the 2024–25 financial year, becoming the first British monarch to publicly disclose personal tax payments. Since ascending to the throne in 2022, he has contributed a total of £30 million in income tax, placing him among the UK’s top 100 taxpayers for 2024–25 . The unprecedented transparency follows criticism over the monarchy’s finances, particularly after the scandal involving Prince Andrew.
The decision to abandon Buckingham Palace as a royal residence reflects broader changes in the monarchy’s priorities. Officials cited the palace’s evolving role as a venue for state functions and public events rather than a private home. The Sovereign Grant, which funds royal operations, is projected to rise to nearly £100 million by 2027–28 to cover ongoing maintenance and the refurbishment’s costs .
Reactions to the announcements have been mixed. While some praised the king’s tax transparency as a step toward modernising the monarchy, others questioned why more details about royal wealth were not disclosed. “The disclosure of tax payments is welcome, but without full financial transparency, it remains incomplete,” said a spokesperson for the campaign group Republic .
The palace’s decision also raises questions about the future of Buckingham Palace itself. With its primary resident no longer planning to live there, the building’s purpose will likely shift further toward ceremonial and administrative functions. The monarchy has not yet announced where King Charles and Queen Camilla will reside instead, though Clarence House and Highgrove House have been suggested as potential alternatives.
The revelations come at a time of heightened scrutiny over the monarchy’s finances and public role. As the institution navigates calls for greater accountability, King Charles’s tax disclosure and the abandonment of Buckingham Palace as a royal residence signal a new era—one defined by transparency, if not yet by full financial openness.
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