HC Deb 02 April 1985 vol 76 cc573-4W
Mr. Faulds

asked the Parliamentary Under-Secretary of State answering in respect of the Arts whether he will specify the objects and property accepted in satisfaction of estate duty or capital transfer tax during the financial year ended on 31 March; and if, in listing them, he will specify (a) the amount of tax satisfied in each case, (b) whether any offer of objects accepted carried conditions as to destination and (c) the total of tax thus satisfied during the financial year in question.

Mr. Waldegrave

The information requested is:

Property accepted Amount of tax satisfied £
Calke Abbey (house, contents and land) 2,584,000
Drawings by Sir Jacob Epstein 20,000
Sculpture by Dame Barbara Hepworth-Nicholson* 145,191
Two Canalettos (balance of payment) 25,074
Land at Ty Canol Wood 76,307
Renoir painting "La Pensée"* 646,350
Lous XVI bonheur du jour 247,500
Palladius and Seneca manuscripts* 66,000
Birdoswald Land 130,138

Property accepted Amount of tax satisfied £
Bust of Lord Somers 33,226
Geoffrey Keynes collection* †26,214
Total 4,000,000

Notes:

* Conditions regarding the allocation of these items were attached to the offer and all were honoured.

† The total amount of tax satisfied by this offer was £194,000. The outstanding balance of £167,786 will be met from the AIL vote for 1985–86.

Mr. Faulds

asked the Parliamentary Under-Secretary of State answering in respect of the Arts whether he will list the amounts initially appearing in the Supply Estimates for the five financial years from 1980–81 to 1984–85, inclusive, in respect of the tax discharge value of works of art and property accepted in satisfaction of capital transfer tax and estate duty, together with particulars of any subsequent increases in those amounts which may have taken place during any of the five financial years in question; whether he will at the same time specify the total tax discharge value of works of art and property actually accepted during each of the five years; and whether the accounting practice is to cancel the resulting surplus in the event of the estimated quota not being fulfilled in any given year.

Mr. Waldegrave

I shall let the hon. Member have a reply as soon as possible.