Estate Duty and Capital Transfer Tax

HC Deb 20 January 1977 vol 924 cc313-4W

Mr. Strauss

asked the Chancellor of the Exchequer if any further objects have recently been accepted in lieu of estate duty or capital transfer tax.

Mr. Denzil Davies

Yes, a drawing by Rembrandt van Rijn entitled "A Group of Musicians Listening to a Flute Player" and a collection of papers, comprising the personal papers of the 1st Duke and Duchess of Marlborough, known as the Blenheim archives, have been accepted in lieu of estate duty.

The Minister for the Arts will announce the destination of the drawing after taking advice from the Standing Commission on Museums and Galleries, and of the papers after consultation with the Historical Manuscripts Commission.

The total cost borne by the National Land Fund after allowing for exemption from estate duty is £387,200.