Let the public see your art works
Let the public see your art works
- 1999
- Financial Times 27 May 1999, 1&31 Times 28 May 1999, 2 Scotsman 28 May 1999, 8(3) .
The Inland Revenue has told owners of tax-exempt works of art that they must provide open access for public viewing on up to 25 set days each year. The owners have been able to defer paying inheritance tax on the art works provided the works are kept in good condition, in the UK, and the public is allowed access. However normally access is by appointment, often requiring proof of identity and payment of an administration charge. Five owners are planning a legal challenge to the decision.
DEFERRED TAX
INHERITANCE TAX
PUBLIC ACCESS
WORKS OF ART
The Inland Revenue has told owners of tax-exempt works of art that they must provide open access for public viewing on up to 25 set days each year. The owners have been able to defer paying inheritance tax on the art works provided the works are kept in good condition, in the UK, and the public is allowed access. However normally access is by appointment, often requiring proof of identity and payment of an administration charge. Five owners are planning a legal challenge to the decision.
DEFERRED TAX
INHERITANCE TAX
PUBLIC ACCESS
WORKS OF ART