We can provide detailed tax and accounting services to individuals and trusts holding art collections, and regularly advise on the transactions they undertake and tax issues they face.
We are experienced in providing advice on complex issues, often involving a number of different tax jurisdictions, and the family and tax issues involved in passing valuable chattels down the generations.
We can advise on the structuring of trusts and other holding vehicles for the acquisition and long-term ownership of art and, working with expert valuers, also deal with the tax implications of lease agreements where appropriate. We advise on the international and cross-border aspects of art related transactions, from the complexities of VAT to the remittance and personal tax implications for non-domiciled art collectors resident in the UK. We can also provide IT support for the creation and maintenance of sophisticated databases for art (and other assets) for individual collectors and trusts.
We understand that our advice must be tailored to the need of the individual client and that although an asset, art and antiques are primarily there to be enjoyed.