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No British monarch will ever live in Buckingham Palace again, despite a massive £369 million modernization of the historic residence funded entirely by taxpayers.

The King and Queen will not move into the official London residence even after the decade-long renovation wraps up next year. Instead, King Charles and Queen Camilla will remain permanently across the Mall at Clarence House, The Daily Mail reports.

Furthermore, Prince William has already announced that when he eventually accedes to the throne, he and the Princess of Wales plan to stay at their private home, Forest Lodge in Windsor. This means the next sovereign will not maintain a permanent residence in the capital at all.

Head Office over Home

The historic royal residence, first occupied by Queen Victoria in 1837, will open its doors wider to the public year by year to generate revenue and ease the burden on taxpayers.

Royal aides insist the building will remain a "buzzing hive of activity" and the "Headquarters of the Monarchy." It will continue to host meetings, receptions, audiences, state visits, and garden parties. The Royal Household's administrative staff will also remain on-site. The only difference is that while the King will commute there daily for meetings while in London, he will sleep next door. "It will remain the jewel in the crown of our national buildings," a senior royal aide emphasized.

However, the move is bound to spark concerns among some that without a resident monarch, the palace will lose its "heart and soul"—not to mention its international mystique—and risk becoming just another glorified office block.

Historic Financial Transparency

This historic revelation came as Buckingham Palace opened its books for its annual financial report, which promises to be "more transparent than ever" this year. The report disclosed several key details:

• The King’s Taxes: King Charles personally paid £12,9 million in taxes for the 2024/25 financial year, voluntarily returning over £30 million to the state since his accession. He is the first monarch in history to officially publish his tax bill.

• The Heir’s Taxes: Disclosing his income for the first time since becoming the Prince of Wales, Prince William voluntarily paid £7.7 million in income and capital gains tax to HMRC.

• Family Rent: The heir to the throne invoiced his father for more than £500,000 in rent for Highgrove, the country home in Gloucestershire. The property now belongs to William via the Duchy of Cornwall, meaning Charles must pay his son to continue using it.

• Budget Increase: Core funding for the monarchy is set to rise to £100 million a year (nearly doubling in three years). The funds will tackle a backlog of repairs at occupied royal palaces, boost cybersecurity across residences, and install energy-efficient heating systems. However, aides stressed they do not have a "blank check" from taxpayers; funding will be frozen for the next five years, and the monarchy remains "good value for money."

Following in Elizabeth II’s Footsteps

The shift in living arrangements was announced by Sir Michael Stevens, Keeper of the Privy Purse. He noted that the decision followed careful consideration by His Majesty and his advisors, as the monarch has long sought ways to make Buckingham Palace more self-sustaining by opening it to the public.

Toward the end of her reign, Queen Elizabeth II made no secret of her dislike for living "above the shop" (her nickname for the residential quarters located directly above the palace offices). She stayed at Buckingham Palace only once or twice a week, vastly preferring her beloved Windsor Castle.

She last stayed overnight at Buckingham Palace on March 18, 2020, before retreating to Berkshire during the Covid-19 pandemic. She never returned, as subsequent renovation work left her private apartments uninhabitable.

The overhaul was desperately needed; large portions of the palace had not been updated since World War II, with some structural elements quite literally crumbling. Given the Queen's advanced age, repairs to her personal quarters were pushed to the very end of the schedule.

At the time, royal aides insisted the monarch would return to the historic residence once work concluded. However, in recent years, the language softened, with officials noting only that a return was "intended."

The King Chooses Comfort

While the decision is heavily driven by the King’s personal ambition to relieve taxpayers through tourism, there is little doubt that the 77-year-old monarch simply feels much more comfortable at the more intimate Clarence House, his home since 2003. Charles was diagnosed with cancer in 2024 and continues to receive treatment, though doctors are reportedly very pleased with his progress.

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