Sotheby’s Tax, Heritage and UK Museums provides specialist support to UK based collectors, museums, and professional advisers on the increasingly complex tax regulations surrounding the acquisition, ownership and sale of works of art.
For Collectors and their professional advisers: Our strong working relationships with the Arts Council England, HMRC and museums enables us to provide exceptional support to clients and their advisors on the effective management of their collections. This may involve arranging heritage exemptions to ensure the preservation of art down the generations, negotiating sales or gifts to the nation including offering works of art “in lieu” of tax, representing clients before the Reviewing Committee for the Export of Works of Art or the preparation of valuations required for tax purposes.
For UK Museums and Galleries: We are delighted to provide our expertise on any aspect of collection management to UK based museums and galleries. As we are dedicated solely to UK institutions, we have built strong links with government agencies thus enabling our specialist team to provide comprehensive and bespoke support to each institution. This may involve offering valuations for the purpose of insurance, government indemnity or donations, or helping institutions to add to their collection through auction, private sale or negotiating the acquisition of property through the acceptance in lieu scheme.