The Art Fund calls for more incentives to give
- 11 December 2008
As the MLA publishes its Acceptance in Lieu annual report, The Art Fund is once again calling on Government to revise the current tax system to encourage lifetime gifts of works of art.
In response to the launch of the Acceptance in Lieu annual report David Barrie, Director of The Art Fund, said: “For decades the AIL scheme has been vital to the continued enrichment of our museums and galleries, but it is strictly limited in scope. It only applies after someone's death and no tax incentive exists in the UK to encourage gifts of works of art during your lifetime. The Art Fund has long called on the Government to address this strange anomaly and we hope the Treasury will implement our widely supported proposal in next year’s Budget.”
Notes to editors:
1. Through the Acceptance in Lieu scheme works of art can only be transferred to the nation once someone has died in lieu of Inheritance Tax - no incentive exists to encourage owners to donate works of art to museums and galleries in their lifetime.
2. The Art Fund is the UK’s leading independent art charity. It offers grants to help UK museums and galleries enrich their collections; campaigns on behalf of museums and their visitors; and promotes the enjoyment of art.
3. It is entirely funded from public donations and has 80,000 members. Since 1903 the charity has helped museums and galleries all over the UK secure 860,000 works of art for their collections.
4. Recent achievements include: helping secure Anthony d’Offay’s collection, ARTIST ROOMS, for Tate and National Galleries of Scotland in February 2008 with a grant of £1million; putting together a unique funding package to ensure Dumfries House in Ayrshire and its contents were secured intact for the nation in July 2007; and running the ‘Buy a Brushstroke’ public appeal which raised over £550,000 to keep Turner’s Blue Rigi watercolour in the UK.
5. For more information contact the Press Office on 020 7225 4888 or visit www.artfund.org