Objects of Art

HC Deb 12 June 1979 vol 968 cc183-4W

Mr. Michael Spicer

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

Mr. Peter Rees

Yes, an oil sketch by Sir Peter Paul Rubens, entitled Jacob and Esau, and a panel by Giovanni Bellini, entitled The Madonna and Child, and a drawing by Francesco Di Giorgio Martini, entitled Adam and Eve, have been accepted in lieu of capital transfer tax. An announcement about their allocation will be made in due course by the Minister with special responsibility for the Arts after taking advice from the Standing Commission on Museum and Galleries.

The total cost borne by the National Land Fund after allowing for relief from capital transfer tax and capital gains tax is £175,000.