Heritage, Art & Other Collectibles
We act for UK and international based private collectors, charities, landed estates, artists and art galleries and have a wide range of experience advising on heritage assets, art and collectibles including:
- tax planning with heritage assets including conditional exemptions, the cultural gift scheme and acceptance in lieu scheme;
- chattels leases;
- Inheritance Tax planning with classic cars (which are exempt from Capital Gains Tax);
- advising on structures to hold classic car collections including Family Limited Partnerships and Family Investment Companies;
- acting for clients with watch, jewellery, wine and shoe collections;
- lending works of art for exhibition in the UK and overseas;
- tax efficient structuring of the ownership, enjoyment and use of art and other collectibles;
- succession planning including lifetime gifts to individuals, family trusts, galleries and charities;
- advising on and documenting the use of art as collateral for lending; and
- disputes regarding heritage and collectable assets including contractual disputes on the sale and purchase of such assets, protecting intellectual property rights and dealing with provenance.
Ann Stanyer is the author of Personal Chattels: Law, Practice and Tax with Precedents which gives an account of the law surrounding the ownership, transfer, and taxations of personal chattels including heritage assets and art. Camilla Wallace is a founding member of PAIAM (Professional Advisors to the International Art Market). We are proud to be lead sponsors of the Chelsea Art Society Annual Open Exhibition since 2014.
EPrivateClient: Forged wills and the importance of succession planning to protect assets
In eprivateclient, Solicitor Jack Martin addresses the legal considerations around stolen art, in light of recent news that art sleuths are taking on traffickers in the $10 billion black market.… Read more →
Scientist’s Tax Offset Delivers Cultural, Family Value
Stephen Hawking’s wheelchair, a pair of his glasses, scientific bets signed with a thumbprint, papers on theoretical physics and even his scripts from The Simpsons are amongst the items that… Read more →
What Banksy teaches us about art ownership
Think the elusive artist has automatic rights to their famous murals? It’s a bit more complicated than that. Jack Martin and Kate Johnson break it down. In law, land includes buildings and fixtures. Once… Read more →
The Duke of Devonshire vs Cycling UK
It has been reported this week that the Duke of Devonshire has blocked cyclists from riding through his 30,000-acre Bolton Abbey estate. Not so, say the Duke, who claims that… Read more →
Acceptance in Lieu
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… Read more →
As Art Market Becomes More “Intangible,” How To Prove Ownership?
In an article for Wealth Briefing, specialists Camilla Wallace and Jack Martin examine the fast-changing art marketplace, where digital works are in high demand and the new patrons are wealthy… Read more →
Piercing the art world’s cloak of secrecy: Hickox v Dickinson – eprivateclient
Head of Private Client Disputes Team, Caroline Miller, and Solicitor Jack Martin in the Private Client team, have written an insightful piece addressing the case of Hickox v Dickinson and… Read more →
Could your art work pay your inheritance tax bill?
The National Gallery has acquired a trio of 18th century artworks in lieu of approximately £10m of inheritance tax, including a pastel by Jean-Étienne Liotard and a portrait by Thomas… Read more →
How To Ensure “Heritage Assets” Don’t Become A Tax Curse
The idea of owning fabulous art works will appeal to many but what happens to descendants who might be faced with a large inheritance tax bill? In the UK, there… Read more →