Tax

A Manhattan district attorney has warned the art and antiques trade of its obligations regarding local sales taxes after a collector and his shippers were indicted for fraud.

The long-awaited tax fraud trial of art dealer Guy Wildenstein has begun in Paris.

BADA have joined with the Federation of Small Business (FSB) to research how much art and antique dealers are helped by the government’s proposed rate relief on properties – if at all.

The Union Customs Code (UCC), designed to standardise how customs information is processed, became law on May 1.

Auction houses selling wine, whisky and other alcoholic drinks to other businesses face criminal convictions and fines up to £10,000 if they fail to register for a new HMRC scheme that aims to police the sale of alcohol to retailers and capture an estimated £1.2bn in unpaid tax.

The British Antiques Dealers Association has met with HM Treasury officials as part of its campaign against HMRC plans to require all businesses to file tax returns on a quarterly, digital basis from 2020.

The British Antique Dealers’ Association is p09nning to mount a campaign with other business bodies to halt a government plan to require all businesses, regardless of size, to file tax returns on a quarterly, digital basis rather than annually.

Online sellers who use eBay are the focus of fresh attempts by HM Revenue & Customs to crack down on tax evasion.

If Scotland votes for independence on September 18, how might this affect the ownership of art North and South of the Border?

Auction houses who refund VAT on the buyer’s premium to overseas purchasers without ensuring that the correct paperwork is in place could find themselves liable for the tax themselves.

Gibraltar expects to become a new European Union tax haven for the trade in art by scrapping import and export duties on works from July 1.

An appeal court ruling on the tax status of Sir Joshua Reynolds’ masterpiece ‘Omai’ means that a number of very rich people are likely to get a bit richer.

The Spanish government have cut the tax on sales of works of art by more than half from 21% to 10% as a means of boosting trade.

How do you convert a £9.4m Old Master painting into a capital gains tax-exempted “wasting asset”?

In the face of strong opposition from the art world, the French government appeared to back down last week from a move to include works of art valued at over €50,000 in annual assessments for wealth tax.

MORE cash has been made available to provide tax breaks for people who donate art to public institutions – and now it can apply during their lifetime.

INDIVIDUALS buying and selling goods over the internet are to be targeted in the latest crackdown by the taxman.

BUDGET proposals to encourage art giving by discounting inheritance tax could actually damage wider philanthropy says a specialist law firm.

INDUSTRY specialists are keeping a sharp eye on developments in the Capital Gains Tax (CGT) debate – and especially on whether any rise will be accompanied by a reintroduction of taper relief.

A DISPUTE between Lord Lloyd Webber and the HM Revenue and Customs over the purchase, with the aid of taxpayers' money, of J.W. Waterhouse's St Cecilia by the Andrew Lloyd Webber Art Foundation, has been settled out of court.