Museums reap £25.3m in treasures

  • 27 July 2007

British museums received a windfall worth more than £25.3 million in precious objects as a result of inheritance tax last year, with calls being made to give tax breaks to donors who pledge treasures to the state after their death. The government will be urged to support the scheme, with chair of the Museums, Libraries and Archives Council, Mark Wood commenting: “Overhaul of the tax framework around philanthropic giving is long overdue.” The value of objects received last year is more than the acquisition budgets of the UK’s national galleries and museums put together, and included a collection of vintage steamboats, a Cartier diamond tiara and a rare early work by Francis Bacon.

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