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    B884 - The Conditional Exemption Tax Incentive scheme (Amendment) Bill 2015, The Hon. Barnetlad MP
    The Conditional Exemption Tax Incentive scheme (Amendment) Bill 2015


    A Bill to amend the qualification for the Conditional Exemption Tax Incentive scheme, which covers works of artistic, historic or scientific interest

    BE IT ENACTED by the Queen's most excellent Majesty, in accordance with the provisions of the Parliament Acts 1911 and 1949, and by the authority of the same, as follows:-

    Eligibility

    1. To be eligible for tax relief under the Conditional Exemption Tax Incentive Scheme, the work covered under the Scheme must be accessible to view by the public for 90 days in each calendar year, for a minimum of four hours between sunrise and sunset on each of the 90 days..
    2. Access under section 1 of the Bill must be controlled by a person or body independent of the owner of the work covered.
    3. If neither section 1 or 2 of the Bill apply, then exemption under the Scheme is not applicable.

    Title and Implementation of the Bill

    4. This Bill shall be known as The Conditional Exemption Tax Incentive scheme (Amendment) Bill 2015
    5. Shall extend to the United Kingdom
    6. This Bill will take effect from 6th April 2016, the start of the 2016-17 Tax Year

    Note
    Some 115,000 works of art and other items are covered by the Scheme, under which inheritance tax is avoided. Access to the public to view such works presently requires a person to give 28 days notice. Works of art covered by the Scheme include 20 works by Rembrandt Van Rijn and 62 by John Constable.
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    I don't get it, what's wrong with the current system?
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    Formatting could do with some work but I like the idea.

    I'd also add some definitions:
    • "accessible to view"
    • "a person or body independent of the owner"
    I mean, frankly I'd just get rid of the scheme and make it a criminal act not to comply with its terms for owners of works covered, but I think that might be a bit too socialisty for this House to stomach.
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    Interesting, I could support this.
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    A good idea certainly, I would happily support this.
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    Sort out the formatting, and you'll get an Aye
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    I don't think access should be organised by a third party, remember most of these works are actually in people's houses, not private museums.
    I think it should be the owners responseabilty to provide access, but with third party oversight or enforcement if needed.
    The sunrise / sunset part is no good, you should put GMT hours in instead.
    Also I think 90 days is too vague. It should be like 3 days a week, or 10 days a month. Otherwise you get a three month viewing window, and the public are waiting 9 months to see it again?
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    I like the idea behind the bill. JeremyOU raises some valid points though.

    I presume 90 days has been chosen as it is approximately 3 months. The problem with this is the places able to display such works are often unlikely to be open 7 days a week. If it is open 5 days a week, then it would take 18 weeks (over 4 months) to meet the 90 day minimum. If the intention is for a 3 month window, then I would advise making the minimum 65 days (13 5-day weeks).
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    I echo the thoughts of JeremyOU.

    I would also like to ask; on what media should this information be made available?

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    (Original post by Andy98)
    I echo the thoughts of JeremyOU.

    I would also like to ask; on what media should this information be made available?

    A fair point and I will think how. I will also think about definitions and whether it should be 3 months or 90 days.

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    (Original post by Wellzi)
    I don't get it, what's wrong with the current system?
    It's basically a tax avoidance scheme more than a way of keeping these works in the UK, and the intention of the Bill is to address this. The idea of a third party being involved is that then there is less chance of dubious opening hours or restrictions designed to prevent access in practice.

    Essentially, lend it to a museum or art gallery for 3 months a year is the outcome I would hope for, making art and other works accessible to more people, and hopefully increasing visits.
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    (Original post by barnetlad)
    It's basically a tax avoidance scheme more than a way of keeping these works in the UK, and the intention of the Bill is to address this. The idea of a third party being involved is that then there is less chance of dubious opening hours or restrictions designed to prevent access in practice.

    Essentially, lend it to a museum or art gallery for 3 months a year is the outcome I would hope for, making art and other works accessible to more people, and hopefully increasing visits.
    Ahhhh that makes sense now.

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    I'll happily give this an aye.

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    Don't really care tbh....

    Abstain.
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    To be Brutally honest I couldn't care less ? , So an Aye I suppose
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    It's good to see the honourable member submitting several items this early into the term, though I'm surprised the Greens haven't backed it (if they've seen it).

    I think it's an abstain for now and I'll wait and see what changes are made. JeremyOU has raised some good points.

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    (Original post by PetrosAC)
    It's good to see the honourable member submitting several items this early into the term, though I'm surprised the Greens haven't backed it (if they've seen it).

    I think it's an abstain for now and I'll wait and see what changes are made. JeremyOU has raised some good points.

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    I will be producing a second reading. I submitted it as a Private Members Bill and had not discussed it with the Green Party or other members beforehand. It is not an issue that was in the Green manifesto.
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    This is in cessation.
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    This has gone to a second reading.
 
 
 
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