Capital Gains & Inheritance Tax for Art Collectors in 2024

The UK’s 2024 budget has introduced significant changes to Capital Gains Tax, inheritance tax, and the non-dom tax regime, all of which will impact art collectors and high-net-worth families. With CGT rising to 24%, a four-year tax-free period for new non-doms, and a 40% inheritance tax on UK assets for long-term residents, collectors will need to consider careful planning to manage these costs and preserve their collections for future generations.

 

In conversation with Alice Martin, Partner at Charles Russell Speechlys AG - hosted by Charlotte Stewart.

 

What is mentioned within this recording does not constitute tax or legal advice.

 

Read more: https://www.myartbroker.com/collecting/articles/capital-gains-inheritance-tax-for-art-collectors