Tag Archives: Tax

An art market without rules? The new Freeport opportunity in the UK

Posted on: April 15, 2021 by Eve Gatenby

“Our clients choose us because we have no priority above their property,” remarks the guide touring Robert Pattinson and John David Washington’s characters through a freeport in Christopher Nolan’s 2020 thriller Tenet. The underground vaults they are walking through are alluringly filled with artworks that give subtle hints at Impressionist and Abstract Expressionist masterpieces. These two characters […]

Art & Taxation Afternoon Seminar

Posted on: June 8, 2018 by Holly Woodhouse

Yesterday, on Thursday the 7th June, the Institute of Art and Law held an afternoon seminar at the Swedenborg Society, with the gracious support of Hunters Solicitors. The focus of the day was Art and Taxation, drawing together a dynamic programme of topics including, tax planning, tax incentives, disputes and VAT in relation to art […]

New speaker added to the Art & Taxation Afternoon Seminar

Posted on: May 31, 2018 by Kiri Cragin Folwell

We are pleased to announce that Clarissa Vallat will be joining us as a panellist at our Art & Taxation Afternoon Seminar on 7 June. Clarissa is a Director of Tax, Heritage & UK Museums at Sotheby’s. Other speakers at the event include: Roderick Cordara QC, barrister, Essex Court Chambers Ruth Cornett, Director, Heritage & Taxation Advisory […]

Brexit and the changes to ‘art law’

Posted on: June 29, 2016 by Alexander Herman

Of course we need to mention the very real possibility of Britain’s withdrawal from the European Union following last Thursday’s referendum vote. We held a class on Saturday as part of our Diploma in Art Profession Law and Ethics (with some sad faces in the room, it should be said) and listed off a number of instruments and regulations in […]

2016 IAL Diploma course begins next month

Posted on: January 15, 2016 by Ruth Redmond-Cooper

The Institute of Art & Law’s Diploma in Art Profession Law and Ethics course (DipAPLE) is set to begin next month, comprising seven monthly sessions running from February to July 2016. DipAPLE, which has been running for ten years, is an intensive and interactive course open both to lawyers and professionals from the art market or museum […]

Customs Warehouses in Switzerland: An Introduction

Posted on: May 4, 2015 by Nina M. Neuhaus

A recent art fraud scandal has put Mr Yves Bouvier into the media spotlight. Mr Bouvier, also known as the ‘Freeport King’, oversees freeport operations in Geneva, Luxembourg, and Singapore. He is the largest private shareholder of Ports Francs & Entreports de Geneve SA, the company running the freeport in Geneva. (The majority shareholder is […]

Artworks now considered depreciable assets in Japan

Posted on: March 25, 2015 by Makoto Shimada

Over the last couple of months, Japanese companies have been flocking to galleries to purchase inexpensive artworks. This trend is a result of a significant governmental change in relation to taxation policy which was adopted from January 2015. According to the newly amended Corporate and Income Tax Law Interpretive Regulations announced by the National Tax […]

Upcoming seminar: Succession Planning for Art

Posted on: January 20, 2015 by Ruth Redmond-Cooper

On 25 February 2015, there will be an IAL evening seminar hosted by Collyer Bristow LLP in London entitled Succession Planning for Art: Owners, Collectors and Creators. The seminar will examine the most effective ways in which artists, dealers and collectors can ensure that, following their death, their wishes concerning the disposition and management of their estate […]

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 […]

Art Imports: Attempts to Avoid Value Added Tax Are on the Rise

Posted on: December 11, 2013 by Nina M. Neuhaus

According to recent reports in several Swiss newspapers, including Catherine Boss/Marie Maurisse, ‘Auf den Spuren des Milliardärs’ in the SonntagsZeiting of 8th December and Simone Schmid, ‘Hotel Dolder im Visier der Fahnder’ in the Tagesanzeiger of 9th December, the Swiss Federal Customs Administration (FCA) has opened an investigation into the billionaire owner of one of […]