Bonhams works with our clients and their professional advisors in offering advice on the complex area of Heritage taxation.
We can assist in the following ways:
- Pre and post-sale advice on Capital Gains Tax liabilities and calculations of (1982) base date values.
- Negotiating values for Inheritance Tax (IHT) purposes where objects are sold during the administration of an estate.
- Preparing or assisting with claims for the conditional exemption, or re-exemption, of pre-eminent objects from IHT.
- Gifts of objects and advice on formal leaseback arrangements including the negotiation of user rentals.
- Advice on the Estate Duty or IHT implications of selling or transferring previously exempt objects.
- Negotiating private treaty sales to UK public collections and the calculation of the tax-exempt special price.
- Negotiating offers in lieu of IHT and Estate Duty together with the calculation of the tax credit.