£10 million increase for lifetime giving and acceptance in lieu schemes
The Chancellor has announced that the annual limit for the new Cultural Gifts Scheme, which will allow pre-eminent works of art or historical objects to be gifted to the nation in return for a tax return and the existing Acceptance in Lieu scheme will total £30 million. This is a 50 per cent increase on the £20 million previously expected to be the total for the two schemes. The Cultural Gifts Scheme will boost lifetime giving and should incentivise philanthropy, benefit our public collections and complement the very successful Acceptance in Lieu scheme.
Simplifying heritage protection
A package of pro-growth measures that will build on the Penfold Review of non-planning consents was also announced today by BIS. Included in this are a number of reforms to the heritage protection system that will be taken forward by DCMS. The aim of these is to streamline operation of the heritage protection system without reducing the level of protection currently afforded to our most important heritage assets.