King Charles declines to move into Buckingham Palace after refurbishment

King Charles III has broken a nearly 200-year-old royal tradition by declining to move into Buckingham Palace after its £369 million refurbishment, according to multiple reports published today. The decision, confirmed by Finnish and Swedish outlets citing CNN, marks the first time in modern history that a British monarch has chosen not to reside in the iconic palace following extensive renovations. The 10-year restoration project, which concluded this month, was intended to secure the building’s future as the sovereign’s primary London residence.

In a separate disclosure, King Charles has become the first British monarch to publicly reveal his tax bill, paying £12.9 million ($17 million) for the 2024–25 financial year, placing him among the UK’s top 100 taxpayers . This follows his earlier revelation on Thursday that he has paid £30 million in income tax since ascending the throne in September 2022. The transparency move, however, has drawn skepticism from French media, which argues that the disclosure does little to restore public confidence in the monarchy amid ongoing scrutiny of royal finances .

The Sovereign Grant, the state funding mechanism that supports the monarchy, is projected to rise to nearly £100 million annually by 2027–28 as the palace renovations continue to draw resources . The Crown Estate’s annual report confirmed the grant as the core financial lifeline for the royal household. Meanwhile, Finnish and Swedish outlets report that King Charles will instead take up residence elsewhere, though no official confirmation has been provided regarding his new primary address.

The decision to bypass Buckingham Palace follows years of debate over the monarchy’s role in modern Britain. Critics argue that the refusal to inhabit the palace—long a symbol of royal continuity—undermines its symbolic value, while supporters suggest it reflects a pragmatic approach to the building’s maintenance costs. The palace’s refurbishment, completed this month, addressed structural weaknesses and modernised facilities, but the king’s choice not to reside there signals a shift in how the monarchy engages with its most visible institution.

As the royal family navigates financial transparency and institutional adaptation, the absence of King Charles from Buckingham Palace raises questions about the future of the monarchy’s most emblematic residence. With the Sovereign Grant set to increase and public scrutiny intensifying, the coming months will test whether this break from tradition strengthens or further erodes the institution’s standing.