Tax & Succession

We have a unique experience in tax and succession issues as they apply to the sale, purchase and ownership of works of art.

Each country has its own tax regimes and legal frameworks. We work nationally and internationally with owners, trustees and their advisers.

We have years of experience in advising and negotiating in areas including:

  • Inheritance Tax and probate issues
  • Capital Gains Tax
  • Offers in Lieu of Tax
  • Conditional Exemption to defer Inheritance tax
  • Lifetime giving
  • The use of chattel license arrangements, as well as many other specialised planning arrangements
  • Import and export
  • Loans to public institutions

We are retained by major collections and landed estates in the UK, Europe and the USA.

For a brief overview of our services, and for information on some common issues, please refer to our section on Tax Issues for Works of Art.

The fourth hoof from Napoleon’s war horse Marengo mounted as a table snuff-box: together with a lock of the horse’s hair. Conditional Exemption from Inheritance Tax negotiated on behalf of the owners, who were descended from Marengo’s original purchaser following Napoleon’s exile to St. Helena in 1815. Now on loan to the Household Cavalry Museum, London.
Cochrane Adams Fine Art
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