Ahead of an formal announcement, government officials are said to be making plans for the coronation, which will take place almost 70 years to the day after his mother, Queen Elizabeth II, was crowned.
The event will form part of a series of days of celebration to mark the official beginning of the monarch’s reign, despite Charles acceding to the throne in September, following his mother’s death.
In June 2023, the King will be 74 years old, making him the oldest person to be crowned in British history.
He will be crowned alongside his wife, the Queen Consort, Camilla.
A source told the Daily Mirror that the event “will be shorter, smaller and less expensive” than the Queen’s in 1953.
“The King is very aware of the struggles felt by modern Britons so will see his wishes carried through that although his coronation ceremony should stay right and true to the long held traditions of the past, it should also be representative of a monarchy in a modern world,” the source said.
They added: “The King has long been an advocate of a streamlined or slimmed down monarchy and this project could certainly be said to fit with his vision. He has already spoken of his wish to continue his mother’s legacy and this includes continuing to recognise what the people are experiencing day by day.”
Plans are also reported to include a multi-faith congregation, composed of Christian, Muslim, Jewish, Hindu and Buddhist figures.
The King has confirmed he will take an oath to the Church of England at his coronation but has made clear he wants to head a Britain that respects all faiths.
Discussions over which days, if any, will become official holidays are still ongoing.
The Independent has contacted Buckingham Palace for comment.