Commentary

V1.298 Works of art, antiques, any collection or collectors' pieces

Part V1 General principles and rates of tax

V1.298 Works of art, antiques, any collection or collectors' pieces

V1.298 Works of art, antiques, any collection or collectors' pieces

The following definitions took effect from 27 July 1999. A “work of art” is—

  1.  

    (1)     any mounted or unmounted painting, drawing, collage, decorative plaque or similar picture that was executed by hand1;

  2.  

    (2)     any original engraving, lithograph or other print which—

  3.  
    1.  

      (a)     was produced from one or more plates executed by hand by an individual who executed them without using any mechanical or photomechanical process, and

    2.  

      (b)     either is the only one produced from the plate or plates or is comprised in a limited edition2;

  4.  

    (3)     any original sculpture or statuary, in any material3;

  5.  

    (4)     any sculpture cast which—

  6.  

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