Art & Cultural Property

Succession Planning, Heritage and Tax

Succession Planning, Heritage and Tax

The legal issues relating to heritage assets – including historic houses and gardens, surrounding land, works of art and other contents, and the funds to support them – demand a range of specialist knowledge and negotiation skills that only come with frequent application and practice. In particular, the taxation treatment of heritage assets is both highly complex and very different from that of other assets, and expertise in this area is essential in helping clients to plan for the future in a way which is both practical and tax-effective.

We deal with such issues more frequently than many of our competitors and our team has developed expertise, professional connections and influence that will help clients through this difficult area.

Heritage issues are of immediate personal importance to the owners involved and have a very real impact upon them; they may also be of great interest to the wider community, including bodies with a particular focus on these matters, and the team places great importance on all these factors in framing its advice.

We have a wealth of experience and technical expertise which informs the specialist advice that we provide to private clients as well as members of the art trade in relation to succession planning, heritage and tax issues, including:

Succession planning

  • Lifetime gifting
  • Gift and lease-backs
  • Corporate succession planning for companies, partnerships and sole traders
  • Personal succession planning, including Trusts, Wills, Letters of Wishes and Family Constitutions
  • Probate
  • Chattels trusts
  • Gifts to qualifying charities

Heritage

  • Conditional exemption
  • Maintenance Funds
  • Acceptance in Lieu
  • Cultural Gifts Scheme
  • Heritage Open Days

Tax

  • Estate duty/Capital Transfer Tax/Inheritance tax
  • Capital Gains Tax
  • Income Tax
  • VAT
  • Non-domiciliaries/structures

Art & Cultural Property Experts

We identify our clients’ needs and tailor our work to each set of circumstances, providing high quality, cost effective advice. We are a multi-disciplinary practice and work collaboratively to provide a comprehensive service across all of our practice areas.

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Gregor Kleinknecht

Partner

Gregor Kleinknecht

Partner

Paul Almy

Senior Partner

Paul Almy

Senior Partner

Stephen Morrall

Partner

Stephen Morrall

Partner

Dominik Opaliński

Partner

Dominik Opaliński

Partner

Julia Richards

Partner

Julia Richards

Partner

Alexandra Sarkis

Solicitor Consultant

Alexandra Sarkis

Solicitor Consultants

Lucinda Tite

Partner

Lucinda Tite

Partner

Anastassia Dimmek

Associate

Anastassia Dimmek

Associate

Latest Art & Cultural Property Headlines

Sep 03, 2021
Gregor Kleinknecht discusses NFTs in the London Art Week Summer 2021 catalogue
Jul 26, 2021
Gregor Kleinknecht comments on the national crackdown on money laundering and fraud, and how the new regulations could cripple the small art market in The Times
Jul 22, 2021
Hunters’ success in the Chambers HNW 2021 Guide
May 12, 2021
Anastassia Dimmek comments on investing in NFTs and what UHNW clients should consider in Citywealth
Jan 25, 2021
Gregor Kleinknecht and Petra Warrington contribute to the first edition of The Art Law Review
Dec 10, 2020
Gregor Kleinknecht discusses lessons learned about buying and selling art during a global pandemic for London Art Week
Dec 03, 2020
Petra Warrington contributes to the International Bar Association’s Art law: Restrictions on the export of cultural property and artwork handbook
Jul 07, 2020
Gregor Kleinknecht appointed as Chairman of Professional Advisors to the International Art Market’s Board
Jun 25, 2020
Petra Warrington to participate in a panel discussion hosted by London Art Week
Jun 24, 2020
Gregor Kleinknecht and Petra Warrington highlight top ten tips for buying art, as part of London Art Week’s newsletter
“Hunters is one of a small number of firms with a real focus on the art law field, offering an exceptional service”

The Legal 500 2021

The team is described by a leading barrister as: “high visibility in this field”, adding: “They work diligently and are very responsive and an absolute delight to work for.”

Chambers HNW 2018

“The team is very knowledgeable, approachable and well-connected within the art world with a profound understanding of the issues that concern both its private and professional clients”

The Legal 500 2021

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