100 Years of Saving Our Heritage for the Nation - Margaret Hodge hails AIL Scheme and unveils latest acquisition

The statue settles a tax bill of £175,000, with Culture Minister Margaret Hodge hailing the scheme as a “win-win-win that benefits the public, owners, and the Government alike”.

Margaret Hodge said:

“The Acceptance in Lieu Scheme has been saving beautiful works of art and precious items from our heritage for 100 years.  Pictures by Michelangelo, Picasso and Titian; Drake’s drum, steamboats from Lake Windermere and even the breathtaking landscape of Snowdonia have all passed into public ownership, thanks to the scheme.  So this elegant bronze is just the latest in a very long line of items that many generations to come will be able to marvel at, appreciate and learn from.”

The AIL Scheme allows items of great historical or cultural importance to be given to the nation in place of inheritance tax.

Margaret Hodge continued:

“The AIL Scheme is a classic win-win-win.  The owner doesn’t need to find the cash to pay their tax bill, the Government is able to take fabulous works of art and heritage items into permanent public ownership at a fair, and the taxpayer knows that the things saved will remain where they belong, in this country on public show, for all time.

“Last year, for example, the Scheme settled around £11 million worth of tax which led to items with a value of around £20 million entering public collections throughout the UK – this is a brilliant success story, and one that we all should celebrate”