King Charles will not live at Buckingham Palace after its 10-year refurbishment finishes next year, royal officials said on Thursday.

It will end nearly two centuries of the palace, located in London, serving as the British monarch’s primary residence.

Officials at the same time disclosed the king ‌paid £12.9 million ($17.0 million) in tax in 2024/25 — the first time the figure has been made public — placing him among Britain’s top 100 taxpayers.

Members of the royal family have promised greater transparency about their finances amid growing scrutiny and criticism since the death of Queen Elizabeth in 2022.

Charles' decision not to live at Buckingham Palace and remain at Clarence House, his longstanding London home nearby, comes ahead of the completion next year of a £369 million refurbishment to replace ageing electrical wiring, pipes and heating systems.

When work started in 2017, officials had expected the palace to remain the monarch's primary London residence, as it had been since Queen ⁠Victoria became sovereign in 1837.

James Chalmers, the king's treasurer, known as the Keeper of the Privy Purse, said it would remain the primary venue for ceremonial and official functions including hosting state visits.

"It is and will remain 'monarchy HQ', the crown jewel of our national buildings, with the sovereign’s standard flying proudly from the roof whenever His Majesty is in London," he told reporters.

According to Reuters news agency, neither Charles nor the late Queen Elizabeth had stayed overnight at the palace since 2019. The king will maintain private rooms there that could be used as accommodation.