Craig Davies and Catherine Thompson at accountancy firm Rawlinson & Hunter discussed the impact of the threats and opportunities post-Brexit on VAT, employment and the UK’s position in the global art market.
The Brexit debate was followed at the conference in London by consultant Ivan Macquisten at ImacQ, who ran through the likely outcomes of the proposed government ivory ban.
He suggested it is likely there will be no compensation for those who own pieces containing ivory that will be reduced in value as a result of the ban. He also predicted there will be a transitional period for people to sell ivory that is affected by the ban.
The Department for Environment, Food and Rural Affairs (Defra) is expected to announce the findings of the consultation on exemptions to a ban later this month.
RICS’ data protection compliance officer Daniel Gibson highlighted the main requirements that auctioneers should be aware of when GDPR goes into law on May 25.
He said the website of the Information Commissioner’s Office 12 step guide is helpful for businesses to understand what action they need to take.
The topic of insurance valuation was covered by antiques surveyor Andrew Acquier, focusing on valuation methods and how to negotiate with loss adjusters and insurers.
The sessions were chaired by Claire Grindey, Arts & Antiques professional group board member at RICS.