Heritage, Art and Other Collectibles

Art and heritage objects are more than possessions – they form part of a personal story, a family legacy, and often, a contribution to the nation’s cultural fabric. These items often carry not only financial value but cultural and historic significance, and our advice reflects that dual responsibility.

Whether advising private collectors, artists, landed estates, or charitable foundations, we help clients navigate the legal, tax, and practical considerations of owning and passing on collections that may be of national importance. Our work includes:

• Advising on collections of watches, jewellery, wine, shoes, and other luxury items — ensuring they are managed, enjoyed, and passed on with confidence.
• Tax planning for heritage assets, including conditional exemption, the Cultural Gifts Scheme, and Acceptance in Lieu — ensuring culturally significant works can remain accessible to the public while delivering tax efficiency.
• Inheritance tax planning with classic cars (which are exempt from capital gains tax).
• Succession strategies for art and collectibles, including lifetime gifts to individuals, family trusts, museums, and charities.
• Structuring ownership and use, including chattels leases, Family Investment Companies, and Family Limited Partnerships for classic cars and other high-value assets.
• Advising on and documenting the use of art as collateral for lending.
• Resolving disputes involving heritage and collectible assets, including provenance issues, sale and purchase disputes, and intellectual property rights.

We work closely with our Private Client and Tax & Trust teams to deliver joined-up advice that protects both the integrity of the collection and the interests of future generations.

Recent experience

• Advising on tax-efficient transfers of heritage assets — including archives, fine art, historic jewels, and culturally significant objects — to public institutions through the Acceptance in Lieu Scheme and the Cultural Gifts Scheme
• Claims for Conditional Exemption from Inheritance Tax for art collections
• Advising owners and working with national museums on tax-free private treaty sales of art and cultural objects
• Advising on the UK’s export controls for cultural goods