• King Charles will not live at Buckingham Palace after its £369 million refurbishment.
• He and Queen Camilla will continue to reside at Clarence House while maintaining official duties at the palace.
• The king revealed he paid £12.9 million in taxes, breaking royal tradition of financial secrecy.
• The refurbishment aims to improve public access and modernize the historic site.
• The Sovereign Grant will see fluctuations following the completion of the renovation.

King Charles III has announced he will not reside at Buckingham Palace once its £369 million refurbishment is completed next year, breaking a 180-year tradition. This decision comes as the palace's restoration aims to enhance public access while maintaining its ceremonial functions as the UK monarchy's operational center. Instead, Charles and Queen Camilla will continue to live at their nearby official residence, Clarence House, according to Reuters, South China Morning Post, and BBC.

The refurbishment, initiated in 2017 to address aging plumbing and electrical systems, is slated for completion in March 2027. James Chalmers, the King’s treasurer, emphasized that the palace will continue hosting official duties, including state banquets and receptions. He described Buckingham Palace as "the crown jewel of our national buildings," which will still play a vital role in royal duties, as noted by India Times and NPR.

Charles became the first British monarch to publicize his tax contributions, having paid £12.9 million ($17.04 million) for the 2024-25 financial year. This disclosure reflects the royal family's commitment to greater financial transparency following public scrutiny post-Queen Elizabeth II’s death, as reported by CBS News and South China Morning Post.

This decision to live at Clarence House allows for expanded public access to Buckingham Palace, which already attracts around 700,000 visitors annually. The renovations aim to modernize the historic site and possibly increase visitor engagement, as highlighted by Chalmers. Visitors will have more opportunities to experience the palace, which has been a traditional center of royal life since Queen Victoria’s reign, according to Reuters, BBC, and NPR.

Following the completion of the refurbishment, the Sovereign Grant is expected to decrease. The King will oversee a budget reduction from £137.9 million to £99.9 million in the 2027-28 fiscal year, although this will still be significantly higher than previous grants. This adjustment is part of a broader strategy to enhance transparency and improve funding management of royal responsibilities, as stated by India Times and CBS News.