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The Asset ObserverThe Asset Observer
Home»Art Market
Art Market

UK Reveals Nearly $80 M. Worth of Art Donated by Collectors in Order to Reduce Tax Burdens

News RoomBy News RoomJanuary 16, 2026
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Arts Council England has announced the results of the 2024-25 edition of its Cultural Gifts Scheme (CGS) and Acceptance in Lieu (AIL) initiatives. Thirty-two artworks entered public collections this cycle, with a combined value of almost $80 million.

Highlights include Edgar Degas’s pastel Danseuses roses (ca. 1897–1901), given to the National Gallery by the estate of Ann Marks; paintings by Max Liebermann and Max Pechstein, given to Oxford University’s Ashmolean Museum from the collection of C. M. and Dorothy Kauffmann; a mahogany standing desk use by Prime Ministers Benjamin Disraeli and Winston Churchill, given to the National Trust, which plans to exhibit it at Hughenden Manor in Buckinghamshire; and 77 photographs by the photojournalist Bill Brandt, given to the Tate by John-Paul Kernot.

This year’s report covers transfers from April 2024 to March 2025. Nicholas Serota, chair of Arts Council England (and previously the longtime director of the Tate), said in the report that many of this year’s allocations went to regional institutions. He noted dwindling public funding and acquisition budgets across the board.  

The CGS and LIU program is meant to keep artworks and objects of national importance in public museum and library collections while also reducing owners’ tax obligations. In two instances this cycle—the Degas painting and the archives of novelist Richard Adams, which went to the Bodleian Library at the University of Oxford—the value of the donation exceeded the donor’s tax liability. In this case, the receiving institution arranges to settle the difference with the offerers.

Over the past decade, a total of 461 objects, worth $727 million, have been acquired from private owners via CGS and AIL. This year’s report features several impact case studies about works such as Claude Monet’s L’Epte à Giverny (1884), in the collection of the Walker Art Gallery in Liverpool since 2023; Stephen Hawking’s archives, given to Cambridge University Library in 2021; and a maquette of Barbara Hepworth’s Orpheus (1956), with the Hepworth Wakefield since 2020.

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