Tax

Two Italian pictures have joined the National Gallery’s collection via the government’s inheritance tax scheme.

A Wright of Derby (1734-97) self-portrait, in private hands for 250 years, has been bought by Derby Museum and Art Gallery with the help of donations and a government tax scheme.

Archive papers and personal objects belonging to the late Professor Stephen Hawking (1944-2018) have been acquired by two institutions.

The National Gallery in London and Birmingham’s Barber Institute of Fine Arts will both benefit from the acquisition of a portrait by German artist Lovis Corinth (1858-1925).

The National Gallery has taken ownership of a portrait by Isaack Luttichuys (1616-73), the first work by the artist to enter a British public collection.

A record amount of paintings, antiques and historic objects were saved for the nation in lieu of tax in 2020, with £65m of objects accepted.

Cambridge University's Fitzwilliam Museum has acquired three paintings for the nation from the estate of George Pinto (1929- 2018).

The National Gallery has taken ownership of three pictures by 18th century greats Jean-Etienne Liotard, Thomas Gainsborough and Sir Thomas Lawrence.

Art and antiques dealers welcomed news from Chancellor Rishi Sunak that the government will abolish business rates for small businesses this year but warned more still needs to be done.

A sixteenth century double-handled maiolica albarello, bought by Mayfair dealer Sam Fogg in 2014, has been acquired by the British Museum.

Sotheby’s has added its weight to the art market’s response against President Donald Trump’s imposition of import tariffs on Chinese works of art in the US.

Three works by Modern British artists will go on display at The Hepworth Wakefield gallery following a donation via the government’s Cultural Gifts Scheme.

Trade body leaders and dealers have given a collective thumbs up to the new Conservative government’s pledge to slash small business rates by half.

Christie’s has been praised for its stance on US tariffs on Chinese art after it became the first art market firm to seek exclusion from the tax, part of the ongoing trade war between the US and China. Late in October, Christie’s applied for exemption from a “punishing” import tax on seven types of Chinese art.

The Irish Antique Dealers Association has written to Ireland’s finance minister to press for VAT-free status as a green retail business, to relieve them of the 13.5% value-added tax they currently pay.

A tax on imports into the US of art, antiques and objects made in China took effect today.