In our previous blog article, we discussed the implications of the FCA Business Interruption test case on art market participants. This article is directed at… Read More »FCA Business Interruption Test Case: are you covered?
Art & Finance
The taxman’s preference on insolvency returns to England and Wales: things that art lenders should know (and borrowers too)
Finance Act 2020 reintroduces Crown preference in an insolvency – in respect of some taxes Following Royal Assent in the summer of 2020, the Finance… Read More »The taxman’s preference on insolvency returns to England and Wales: things that art lenders should know (and borrowers too)
In February 2020, Lord Stevenson of Balmacara sponsored the Goods Mortgages Bill as a Private Member’s Bill starting in the House of Lords. This followed… Read More »The Goods Mortgages Bill – A Major Reform of the Bills of Sale Acts
Lending against art is on the rise. In a survey conducted by Deloitte and ArtTactic for their Art and Finance Report 2014, 48% of collectors… Read More »Reform of Bills of Sale could offer a welcome boost to England’s Art Lending Market
In Europe, banks and other specialist providers of loans against art, antiques and collectible items have often no choice but to take possession of the… Read More »Art Finance – Leaving the art on the borrower’s walls
The London Upper Tax Tribunal accepts that an old master painting is a wasting asset, thereby escaping capital gains tax upon its sale. In November… Read More »Is an old master painting a wasting asset?