UK government receives record £65m art gifts in lieu of inheritance tax
Portrait with Candelabra by Leonard Rosoman (1968) Photo: Courtesy of Pallant House Gallery A sunkissed Pissarro painting, a Queen Anne wine cistern and six etchings by Rembrandt are all gifts that have been bestowed upon the UKs public collections this year as part of the governments Acceptance in Lieu (AIL) tax scheme, which brought in a record £65m in 2020 according to a report by Arts Council England. AIL allows for inheritance tax debts to be written off in exchange f...
Source: theartnewspaper.com