Friday, July 01, 2011

Consultation on new tax breaks for major art donations launches | Philanthropy UK

Consultation on new tax breaks for major art donations launches | Philanthropy UK: "After much call from the sector, the government has published proposals for consultation on a new scheme to encourage people to donate pre-eminent objects or works of art to the nation by offering tax incentives.

Treasury consultation suggests relief from income tax, capital gains tax and even corporation tax for the year when 'pre-eminent' objects are given to the nation, based on a set percentage of the value of the object they are donating."

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