Fancy this – the King won’t be getting the keys to Buckingham Palace after all, even once the scaffolding comes down.

King Charles III has decided he won’t be moving back into Buckingham Palace when its massive 10-year makeover wraps up in 2027, according to cbinews.tv. That means the palace will no longer be the monarch’s official London digs – ending a tradition that’s been going strong for nearly 190 years.

Royal officials confirmed on Thursday that Charles is sticking with Clarence House, the place he’s called home in London for years. Don’t worry though – the palace isn’t being mothballed. It’ll still be the go-to spot for state ceremonies, big official do’s, and all those important diplomatic handshakes.

The decision lands as the £369 million refurb finally nears the finish line. It kicked off back in 2017 and has basically been a full rewiring job – new electrics, plumbing, heating, the lot.

Truth is, Buckingham Palace hasn’t actually had a royal in residence overnight since 2019. Neither the late Queen Elizabeth II nor King Charles has stayed there since then, even though it’s been the sovereign’s main London home since Queen Victoria moved in back in 1837. Officials did say the King will keep some private rooms there for the odd night when he needs them.

James Chalmers, the Keeper of the Privy Purse, still called the palace the “enduring centre of the British monarchy.” He added it’ll remain “monarchy headquarters” whenever the King’s in town and will keep hosting state visits and major royal events.

And in a bit of royal financial transparency, officials also revealed Charles paid £12.9 million in tax for 2024/25 – the first time his yearly tax bill has been made public. He paid £11.7 million the year before, taking his total since becoming King in 2022 to over £30 million.

Now, monarchs don’t actually *have* to pay income, capital gains or inheritance tax, but Charles has kept up the tradition his mum started in 1993. Most of his private cash comes from the Duchy of Lancaster estate, which is expected to bring in £25.2 million in 2025/26, plus some personal investments.

Meanwhile, the Sovereign Grant – the money that covers official duties, palace upkeep and staff – jumped from £86 million in 2024/25 to £132 million this year thanks to higher Crown Estate profits. It’ll hit £137.9 million next year before dropping to £100 million in 2027/28, which is what the King asked for.

Chalmers said that cut will end the temporary funding boost that paid for the palace refurb, and stressed the grant isn’t just a blank cheque – there are safeguards in place.

cbinews.tv

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