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King Charles and Queen Camilla have revealed plans not to reside in Buckingham Palace once its extensive £369 million refurbishment is completed next year, according to the most recent royal financial statements. While the historic palace, which has been the official London residence of British monarchs since 1837, will remain the central administrative base for the monarchy, Clarence House, located nearby, will continue as the King’s official home. This decision aims to increase public access to Buckingham Palace, officials have explained.
The decade-long renovation project, funded by a temporary rise in the Sovereign Grant, which covers the official expenses of the royal family, is scheduled for completion in March next year. The refurbishment will address critical infrastructure replacements such as ageing electrical cables, lead pipes, boilers, and wiring—some components that have not been updated for over 60 years—due to concerns about fire and water damage. Since their marriage in 2005, King Charles and Queen Camilla have lived at Clarence House, previously the residence of the Queen Mother. Now in their late seventies, sources suggest that both the King and Queen wished to avoid the disruption that relocating, along with their staff, to Buckingham Palace would entail.
Security considerations also played a role in the decision; the presence of the monarch at Buckingham Palace would reduce visitor numbers and restrict public viewing areas. By keeping the King’s residence at Clarence House, Buckingham Palace could potentially extend its open season, allowing more visitors to experience the State Rooms, which are currently open only during the summer and on selected dates throughout the year. Despite not living at the palace, the King will still host numerous official events there, including state banquets, garden parties, receptions, as well as formal audiences with the prime minister and new ambassadors. A palace spokesperson noted, “His Majesty retains huge affection for Buckingham Palace and a deep respect for its role in royal and public life. It will be a buzzing hive of royal activity in every other way.”
The royal accounts also disclosed that King Charles has become the first monarch to publicly disclose his tax payments. Among the UK’s top 100 taxpayers, he paid £12.9 million in 2024-25 and £11.7 million in 2023-24. The Sovereign Grant received a temporary increase from 2017 to fund the Buckingham Palace overhaul. However, after the refurbishment concludes, the grant is expected to decrease from £137.9 million to £99.9 million by 2027-28. Despite this reduction, the grant for 2024-25 will remain nearly double its core amount of £51.8 million, and still above the upcoming core grant of £72.1 million set for 2025-26. The elevated funding will also cover ongoing maintenance at royal residences, cybersecurity enhancements, and the installation of energy-efficient heating systems. Furthermore, £11 million has been allocated specifically for replacing boilers at Windsor Castle that are nearing the end of their lifespan
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