Arts Council England has published the Acceptance in Lieu Scheme Report 2010/11 to 2011/12, which outlines the 51 cases of major cultural significance and beauty that have been allocated to the nation’s public museums and galleries between 2010 and 2012.
The Acceptance in Lieu (AIL) scheme allows those who have a bill for inheritance tax to offset part of those taxes by donating important cultural, scientific or historic objects to the nation.
The items accepted through this scheme are allocated to public collections and are available for everyone to engage with and enjoy. Items have been allocated across the UK, ranging from some of our smallest museums and galleries to national institutions.
In 2010/11, cultural objects worth a total of £8.3 million were allocated to national institutions, and in 2011/12, £31.3 million. The acceptance of these objects has settled £24,950,413 worth of inheritance tax. Over the past decade, approximately £215.4 million of cultural worth has been donated to the nation.