King Charles won’t live in Buckingham Palace, reveals taxes
Buckingham Palace has been the British monarch’s official residence in London for nearly two centuries. But royal officials say King Charles and Queen Camilla won’t
Buckingham Palace has been the British monarch’s official residence in London for nearly two centuries. But royal officials say King Charles and Queen Camilla won’t reside there. King Charles III will not live at Buckingham Palace after its 10-year refurbishment program finishes next year, royal officials said on Thursday. The king and Queen Camilla will instead continue to live at Clarence House, his longstanding London home nearby. James Chalmers, the king's treasurer and keeper of the privy purse, said Buckingham Palace would remain the primary venue for ceremonial and official functions, including receiving foreign dignitaries. "It is and will remain monarchy HQ, the crown jewel our national buildings," Chalmers told reporters. Buckingham Palace would remain the primary venue for ceremonial and official functions, say royal officials [FILE: May 6, 2023] Image: LEON NEAL/AFP Buckingham Palace — the center of the British monarchy for nearly 200 years Buckingham Palace has been the British monarch's primary London residence for nearly two centuries, since Queen Victoria became sovereign in 1837.
The 775-room building has not only served as the official residence of the monarch but also provided office space for the royal bureaucracy and hosted lavish state dinners for visiting foreign leaders. The palace is currently undergoing a major renovation. The work started in 2017 and is expected to conclude next year, with the total cost projected at 369 million pounds (€428.2 million, $486.7 million). The project includes replacing aging electrical wiring, pipes and heating. Some 700,000 people visit the building every year. There will be greater public access, the official said, without providing details. Charles releases tax declaration On Thursday, Charles also released to the public the details of his personal taxes paid to the government, marking the first time he has done so since becoming the monarch in 2022.
Officials disclosed the king paid 12.9 million pounds in tax in 2024/25. The figure places the king among Britain's top 100 taxpayers. By law, the British king is not obliged to pay income, capital gains or inheritance tax. But Charles, like his mother, Queen Elizabeth II, did after 1993, has voluntarily done so without disclosing the amounts. Private income worth millions The British monarch receives money from the government, known as the Sovereign Grant, to pay for staff, royal palaces and travel. But Charles, like all monarchs since 1399, also receives millions of pounds in private income from the vast Duchy of Lancaster estate as well as his other investments. Meanwhile, Prince William, heir to the throne, paid 7.76 million pounds in tax in 2024/25.
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