Margaret Thatcher – private memoirs given to Treasury in lieu of inheritance tax

Nick Palmer3

Margaret Thatcher’s executors have given some of her personal memoirs to Arts Council England in settlement of the estate’s £1m inheritance tax bill. The handwritten documents, including a 128 page memoir of the Falklands War written in 1983, are being held at the Churchill Archives Centre in Cambridge.

The ‘Acceptance in Lieu’ scheme allows executors to transfer works of art and heritage objects to the State towards any inheritance tax due. During the 2013/2014 tax year, important cultural treasures valued at £45m were transferred under the Scheme.

Nick Palmer is a lawyer at Barker Gotelee, Solicitors in Ipswich.

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