Tax and Heritage Advice

Bonhams works with our clients and their professional advisors in offering advice on the complex area of Heritage taxation.

We can assist in the following ways:

  • Pre and post-sale advice on Capital Gains Tax liabilities and calculations of (1982) base date values.
  • Negotiating values for Inheritance Tax (IHT) purposes where objects are sold during the administration of an estate.
  • Preparing or assisting with claims for the conditional exemption, or re-exemption, of pre-eminent objects from IHT.
  • Gifts of objects and advice on formal leaseback arrangements including the negotiation of user rentals.
  • Advice on the Estate Duty or IHT implications of selling or transferring previously exempt objects.
  • Negotiating private treaty sales to UK public collections and the calculation of the tax-exempt special price.
  • Negotiating offers in lieu of IHT and Estate Duty together with the calculation of the tax credit.