Winston Churchill paintings offered in lieu of inheritance tax
Usually, HM Revenue & Customs want you to pay inheritance tax in cash However, occasionally they will accept important works of art or other heritable objects instead under the ‘Acceptance in Lieu Scheme’.
Mr Churchill’s youngest daughter died in May and her estate has offered 38 paintings by the former prime minister to the nation in satisfaction of the inheritance tax due in her estate. The Government will decide next year whether it accepts them.
This is a great way of preserving national treasures for the nation, protecting them from being sold on the open market and perhaps being lost to the nation and the public eye.
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