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[POLITICS] · United Kingdom · 100 sources

King Charles III skips Buckingham Palace residence and reveals £12.9 m tax bill

King Charles III announced that he will not move into Buckingham Palace after its ten‑year, £369 million renovation is completed next year. He will remain at Clarence House, the London home he has occupied since 2003, while the palace will continue as the ceremonial and administrative centre of the monarchy and will be opened more widely to the public.

The royal household also disclosed the King’s personal tax payments for the 2024‑25 financial year – £12.9 million – making him the first British monarch to publish such figures and placing him among the UK’s 100 biggest taxpayers. Since ascending the throne in 2022, Charles has paid over £30 million in taxes. His son, Prince William, also released his tax return, showing a payment of £7.76 million for the same period.

In parallel, the Sovereign Grant, the public funding that covers the monarchy’s operating costs, will be reduced to £99.9 million a year for the next five years, down from a peak of about £138 million during the palace refurbishment, and later to about £100 million from 2027‑28 onward. The announcements come amid calls for greater transparency and scrutiny of royal finances.

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