How to reduce your tax exposure on acquisition or disposal of art and antiques
One of the benefits of wealth can be the acquisition and holding of art and antiques. Collections may be acquired in a lifetime or inherited within a family. They may range from old masters through to contemporary art.
In each case, you will be concerned the ownership of your art and antiques is held correctly either personally or through a structure. You will also be concerned how to reduce the exposure to tax either on acquisition or disposal of art and antiques and on moving them between jurisdictions.
The approach of Ritchie Phillips has always been to provide advice which works both in the short and the long term as art and antiques are often an asset class passed from generation to generation.