The Heritage Property and Art group comprises specialist lawyers drawn from across the firm. A multi-disciplinary approach allows us to tailor our services to a broad range of clients, including artists, auction houses, galleries, individuals owners and collectors, historic houses and charities, in the UK and overseas.
The advice we provide covers:
- tax and succession planning for individual owners and trustees
- the exemptions affecting buildings, landscapes and objects of national importance, offers in lieu of tax and heritage maintenance funds
- the responsibilities of trustee owners of heritage property and art, including insurance, preservation and public access
- buying and selling art, privately or at auction
- art-related intellectual property, including artists' resale rights
- the import and export of works of art
- the formation and management of charities and art foundations
- disputes about the ownership, provenance and authenticity of art
- litigation over transactions involving agents, auction houses and galleries.
From growing a business to starting a family or handing over control of that business to the next generation, every individual has their own goals to aspire to. Our Private Wealth lawyers advise our clients throughout this family life cycle, providing the legal advice required for specific transactions such as purchasing a home or selling a business, whilst also advising on the long-term opportunities for succession and estate planning.
The art industry, like most other industries, is not immune to the effects of the coronavirus. It is important for galleries, dealers, museums, auction houses, and other art businesses to consider the employment issues arising as a result of the pandemic. This is no easy task, especially when guidance and regulations are being introduced and changed at unprecedented speed.
Art in the time of Coronavirus: HMRC relaxes the public access requirements for Conditional Exemption
HM Revenue & Customs (HMRC) has temporarily relaxed the public access requirement for Conditional Exemption, and urged the owners of heritage property to follow the restrictions now imposed by the UK government on business operation and public movement due to the Coronavirus outbreak.
With one third of the global population living under lockdown, we are witnessing the dawn of a new, and hopefully temporary, normal. We are all having to adapt to significant changes to our daily lives, social interaction and the operation of our businesses.
According to the British Art Market Federation, the UK arts and antiques market is comprised of nearly 8,000 businesses, providing direct employment for over 41,000 people. It is the third largest in the world with over a 20% global share and, therefore, a significant sector in the UK economy.
Charitable arts organisations have been hugely affected by the coronavirus pandemic. All of the large museums and galleries have had to cancel exhibitions and events, with enormous revenue consequences.