King Charles says he will never move into Buckingham Palace

King Charles announced that he will not make Buckingham Palace his residence even after the £369 million renovation is completed. He will continue to live at Clarence House and use other private homes such as Highgrove, while the palace will remain a venue for official ceremonies and be opened more frequently to the public.

The annual financial report also disclosed that the king paid £12.9 million in personal income tax for 2024‑25 and has voluntarily contributed over £30 million in taxes and capital gains since becoming monarch. Prince William similarly paid £7.7 million in personal taxes and capital gains. In addition, the king received more than £500,000 in rent from his father for the use of Highgrove. The royal household’s budget is set to rise to £100 million a year to cover palace upkeep, cybersecurity and energy‑efficient heating upgrades.