Acceptance in Lieu
30 / 04 / 2021
For those lucky enough to own an item of cultural or historical importance (for example a piece of art or collection of books) the issue inevitably arises as to what happens to that item on the owner’s death. Given that items of cultural or historical importance are likely to have significant value a key consideration will be the inheritance tax (IHT) liability that the item will attract on death.
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