Tax

Italy has announced a cut in VAT for art and antiques from 22% to 5%, making it lower than any other EU state. The country also aims to halve VAT on imports to 5%.

The British Art Market Federation (BAMF) has welcomed the government’s announcement of changes to the Temporary Admission procedure, which relieves the import duties for eligible goods that are imported temporarily.

The UK government’s Budget included a raft of measures that are likely to affect the art and antiques market.

A painting by French Impressionist painter Eva Gonzalès has been acquired by The National Gallery via a private treaty sale from a British collection for a “tax-advantageous price” of £1.49m.

A self-portrait by artist George Frederic Watts (1817-1904) has been acquired by Watts Gallery in Compton, near Guildford.

The National Gallery has acquired 'Eucharist' (c.1637-40), a depiction of the Last Supper, by Nicolas Poussin (1594–1664).

The latest annual Cultural Gifts Scheme and Acceptance in Lieu Annual Report has been published detailing the artworks and objects that will go on show to the public.

A new publication by Art Fund and Arts Council England seeks to raise awareness about how owners of art and antiques can donate to institutions.

National Museums NI has bought Pierre-Auguste Renoir’s (1841-1919) L’allée au bois via the government’s Acceptance in Lieu scheme for the Ulster Museum.

Two Italian pictures have joined the National Gallery’s collection via the government’s inheritance tax scheme.

A Wright of Derby (1734-97) self-portrait, in private hands for 250 years, has been bought by Derby Museum and Art Gallery with the help of donations and a government tax scheme.

Archive papers and personal objects belonging to the late Professor Stephen Hawking (1944-2018) have been acquired by two institutions.