• King Charles reveals he will not reside at Buckingham Palace after its £369 million refurbishment.
• The King paid £12.9 million in taxes for 2024/25, now disclosed publicly.
• Clarence House will continue as the official residence for the King and Queen Camilla.
• The Buckingham Palace refurbishment aims to enhance public access and preserve historical value.
• This decision marks a shift from nearly two centuries of monarchy residing at the palace.

King Charles will not move into Buckingham Palace after its extensive £369 million refurbishment is completed next year, ending a long-standing tradition that began in 1837. Instead, he will continue residing at Clarence House, which has been his home since 2005, according to Reuters and South China Morning Post.

Officials stated that Buckingham Palace will still serve as the administrative headquarters for the monarchy, hosting ceremonial functions and events. James Chalmers, the King’s treasurer, emphasized that the palace would remain vital for royal operations, saying it "is and will remain monarchy HQ, the crown jewel of our national buildings," according to BBC and Reuters.

In a related announcement, King Charles disclosed that he paid £12.9 million ($17.04 million) in taxes for the year 2024/25, making him one of the UK's top 100 taxpayers. This marks the first time such financial details have been shared publicly, aligning with promises from the royal family to enhance financial transparency following Queen Elizabeth's death in 2022, according to South China Morning Post and BBC.

The refurbishment project of Buckingham Palace began in 2017 and includes essential updates such as replacing outdated wiring, pipes, and heating systems to address safety concerns. While there will be improved public access and operational functionality at the palace, concerns over security and continuity in royal routines were factors in the King's decision not to relocate, as noted by Reuters and BBC.

Despite the significant change in residency, King Charles will retain private rooms at Buckingham Palace for occasional use. Chalmers further assured that the palace would continue to play a pivotal role in royal activities, emphasizing that it would be a "buzzing hive of royal activity," according to BBC and South China Morning Post.