Tag Archives: acceptance in lieu

UK government took in £125 million through AIL and CGS

Posted on: September 25, 2014 by Alexander Herman

It has recently been reported that nearly £125 million worth of art has been handed over to the UK government in lieu of tax liabilities between the years 2009 and 2013. This is the result of the government’s ‘acceptance in lieu’ scheme (AIL), whereby works of art can be transferred to the state in order to offset inheritance taxes, as […]