Acceptance in Lieu report 2015
/luca signorelli, man on a ladder
The recently published 2014/15 annual report for the Cultural Gifts Scheme (CGS) and Acceptance in Lieu (AIL) Scheme shows that in the last year 29 cases - including a wide range of works of art worth almost £40 million - were accepted for the nation.
Download the annual report here.
The Cultural Gifts Scheme encourages gifts to the nation of important items during the donor's lifetime, and the Acceptance in Lieu scheme enables taxpayers to transfer important works of art and other heritage objects into public ownership while paying Inheritance Tax or one of its earlier forms. The taxpayer is given the full open market value of the item which is then allocated to a public museum, archive or library.
The AIL Panel would very much like to increase awareness of the schemes in order to encourage further gifts and offers to be made and would welcome any suggestions as to individuals, groups or organisations that would benefit from learning more about AIL and CGS.
For further details visit the Arts Council website.
