| Commentary

134.2 The amount of tax relief

| Commentary

134.2 The amount of tax relief

If an individual makes a donation of a pre-eminent object, a portion of his income tax and capital gains tax liability for the tax year in which the donation is made (and up to four subsequent tax years) can be treated as satisfied1. The portion is 30% of the agreed value of the gifted pre-eminent object2.

The donor must state in his application how he wants the tax reduction to be allocated over the possible five tax years. For example, he might choose to apply all of the tax reduction in the year of the

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