When the £369 million renovation of Buckingham Palace is completed next March, the building will be safer, more modern, and ready for a monarch to call it home once again — but King Charles III and Queen Camilla will not be moving in. The King has decided that Clarence House, his London home since 2003, will remain his official residence for the rest of his reign. The palace, which has been the sovereign's official London residence since Queen Victoria took the throne in 1837, will continue to serve as the administrative headquarters of the monarchy — or, as the Keeper of the Privy Purse, James Chalmers, put it, "monarchy HQ, the crown jewel of our national buildings". But the King and Queen will only have access to private rooms within the palace for daytime use and occasional overnight stays.
The decision was announced alongside the publication of the latest royal accounts, which also revealed that the King paid £12.9 million in income and capital gains tax in 2024-25 on his personal income (the privy purse), and that the sovereign grant — the public money given to the monarch for official duties — will nearly double from £51.8 million in 2024-25 to £99.9 million by 2027-28 after a review by the prime minister, the chancellor, and the King's accountant. Prince William, the Prince of Wales, paid £7.76 million in tax for the same period.
“Why King Charles will not live in Buckingham Palace after its £369m refurbishment, and what it means for the monarchy and public access.”
Why does a monarch choose not to live in the monarchy's most famous building? According to palace officials, the primary reason is to increase public access. When a reigning monarch is in residence, security restrictions limit the number of visitors and the areas they can view. By not living there, the State Rooms can open for longer periods, generating more income. A palace spokesperson said the palace "will continue in every traditional way to be the beating heart of the monarchy, just not its resting head." It will still host state banquets, garden parties, receptions, and audiences with the prime minister and new ambassadors. The King and Queen, both in their late 70s, also preferred to avoid the upheaval of moving themselves and their staff. Clarence House, which stands beside St James's Palace, was once the home of the Queen Mother and is where Charles and Camilla have lived since their marriage in 2005.
The 10-year refurbishment project, funded through a temporary increase in the Sovereign Grant, involved replacing ageing cables, lead pipes, wiring, and boilers — many for the first time in 60 years — to reduce fire and flood risk. It is due to be completed in March 2027. The renovation cost has been reported as either £369 million or £370 million across different sources, but the figure is around £370 million.
For UK readers, this decision matters for several reasons. First, public spending on the monarchy is a sensitive topic. The sovereign grant nearly doubling in three years is likely to prompt questions about value for money, especially as the King is not using the palace as a home. Second, greater public access to Buckingham Palace could boost tourism revenue and allow more people to experience a historic building that has long been a symbol of the royal family. Third, it signals a shift in how the monarchy operates: the palace remains the ceremonial and operational centre, but the personal residence is separate. It is not yet known whether Prince William will move there when he becomes king.
Q: Why did King Charles decide not to live in Buckingham Palace? The decision was made after careful consideration to greatly increase opportunities for public access. The King and Queen also wanted to avoid the upheaval of moving themselves and their staff at their late age, and security concerns would limit visitor numbers if the monarch was in residence.
Q: How much is the Buckingham Palace renovation costing, and who is paying? The 10-year refurbishment is costing around £369 million (or £370 million) and is funded through a temporary increase in the Sovereign Grant, which is the public money given to the monarch to carry out official duties.
Q: Will Buckingham Palace still be used for royal events? Yes. It will continue to host state banquets, garden parties, receptions, and audiences with the prime minister and new ambassadors. It remains the ceremonial and operational centre of the monarchy, with the King's standard flying when he is in London.
What happens next? The renovation is due to be completed in March 2027. From then, the palace will operate with increased public access, but Clarence House remains the King's official London home. It is unclear whether Prince William, who pays tax on his private income, will move into Buckingham Palace when he becomes king. The sovereign grant will rise to £99.9 million from 2027-28, and the King continues to publish his tax bill voluntarily, having paid over £30 million since his accession.