Commentary

E1.813B Cultural gifts scheme

Personal and employment tax

E1.813B Cultural gifts scheme

E1.813B Cultural gifts scheme

An individual can satisfy part of their income tax and capital gains tax liability by gifting pre-eminent property to be held for the benefit of the public or the nation1. A gain on the disposal of an asset constituting a gift under the cultural gifts scheme is not a chargeable gain2.

The scheme is also open to companies but not to trusts or personal representatives.

The scheme is alternatively known (and described in the tax statute) as Gifts to the nation, and is administered by the Department for Culture, Media and Sport.

The tax relief is dependent on a

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