1933 (Milk and Plain Chocolate)

International Review

International Review

Page 22

Bonhams Modern British Picture specialists worked together with the Tax & Heritage department on a highly significant collection of pictures.

After negotiating on behalf of the executors and trustees with Arts Council England (ACE), the majority of works were offered for sale whilst two works were accepted as pre-eminent and as such were conditionally exempted from tax (IHT). To comply with the necessary conditions (of exemption) and to highlight the importance of the works they have been temporarily loaned to Tate Britain.

Mike Neill
Director, Tax & Cultural Heritage, London

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