Tax Allowances: Cultural Heritage

Treasury written question – answered on 6th September 2013.

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Photo of Helen Goodman Helen Goodman Shadow Minister (Culture, Media and Sport)

To ask the Chancellor of the Exchequer what requirements are placed on owners of heritage assets which are exempt from estate duty.

Photo of David Gauke David Gauke The Exchequer Secretary

The requirements for the exemption from estate duty depend on the date when the event which gave rise to the tax charge occurred. For events up to 28 July 1950, the only obligation is that the objects are not sold. For events after that date, there are additional requirements that the objects are kept in the UK and, in certain cases, that they are preserved and made available for inspection by authorised persons for preservation or research purposes.

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