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Practice Areas

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thepartners@wrigleys.co.uk

Leeds: 0113 244 6100

Sheffield: 0114 267 5588

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Specialist taxation and ownership advice for heritage property

Wrigleys' heritage team advise on all aspects of the ownership and taxation of heritage property and art including works of art, furniture, jewellery, stamps, coins and medals.

Heritage land and buildings can pose various legal problems. They often have high capital values, but frequently any income they produce is absorbed or exceeded by maintenance or conservation costs. In rural areas these problems can be aggravated by current farming trends. Additionally, families owning such a property may be reluctant to see it sold at any price. Some heritage assets are transferred to or run by charities.

Specific services include:

  • Sales – consignment, establishing provenance, authorities, notice to Arts Council England and HMRC, export licences.
  • Purchases – at auction or by private treaty, checking provenance, funding, storage, security.
  • Gifts and transfers into and out of trusts.
  • Tax reliefs - Items already conditionally exempt from CGT or IHT, liaison with HMRC, methods of providing public access, compliance issues.
  • Charitable structures and maintenance funds.
  • Seeking renewal of conditional exemption on a fresh chargeable event or fresh conditional exemption for the first time, preeminent quality test, negotiating public access undertakings.
  • Breaches of undertakings for conditional exemption, loss or damage, negotiating tax liabilities arising.

"Wrigleys is a first tier firm for Personal tax, trusts and probate"

- Legal 500

"Market commentators describe the practice as a "gathering of like-minded people who have some superb specialisms" and who are "an absolute pleasure" to deal with."

- Chambers and Partners

Julia Boyes View Biography

Julia Boyes

Direct Line: 0113 204 5703

Partner
Leeds

Meet the team

10 Oct 2018

School and nursery staff no longer have to disclose association with sex offenders

The disqualification by association rules no longer apply to those working in schools and nurseries.

25 Sep 2018

Could you maximise income through hiring out school property?

We look at an example of utilising school land and property, and how the school and academy trust should act.

24 Sep 2018

**HMRC UPDATE** Trust Registration Service - September 2018

HMRC has further updated its guidance on compliance with the legislation of the registration of trusts which had tax liability.