… There are three schemes whereby HM Revenue & Customs accept artwork, or objects in lieu of Inheritance Tax (“IHT”). The first scheme allows the executors of an individual’s estate to settle the IHT liability. The second scheme, in respect of pre-eminent artwork and objects, provides for an enhanced relief

… Charitable donations made under Gift Aid qualify for beneficial tax treatment. Where donations are made by individuals, the donation is treated as being made net of basic rate tax deducted at source at the rate of 20% by the donor. The charity is able to recover this basic rate