Export of objects of cultural interest 2011-12 
Statistical Release   
20th November 2012   

Export of objects of cultural interest is an Official Statistic and has been produced to the standards set out in the Code of Practice for Official Statistics

Contents

Chapter 1: Introduction	4
Chapter 2: Findings	6
Chapter 3: Data tables	7
Chapter 4: Background information	16
Chapter 5: Glossary	18

Chapter 1:	Introduction

Purpose of this release
The Reviewing Committee on the Export of Works of Art and Objects of Cultural Interest (RCEWA) was established in 1952, following the recommendations of the Waverley Committee in its Report in September of that year. 

The Committee’s role is to advise the Secretary of State for Culture, Media and Sport whether a cultural object (for example works of art, antiques and collectors' items), which is the subject of an application for an export licence is of national importance under the Waverly criteria. Where the Committee finds that an object meets one or more of the criteria, it will normally recommend to the Secretary of State that the decision on the export licence application should be deferred for a specified period to give a last chance to retain the object within the United Kingdom. An offer may then be made from within the United Kingdom to purchase the item.

This statistical release presents the figures related to the export of objects of cultural interest which will be included in the report on the operation of the control of such objects which the Secretary of State is required to present to Parliament under Section 10(1)(a) of the Export Control Act 2002 .

These figures are collated by the Export Licensing Unit at Arts Council England on behalf of the Secretary of State.

A glossary is provided at the end of this report to aid the user in definitions of technical or specialist terminology.

Current export controls
The export controls are derived from both UK and EU legislation. The UK statutory powers are exercised by the Secretary of State under the Export Control Act 2002. Under the Act, the Secretary of State for Culture, Media and Sport has made the Export of Objects of Cultural Interest (Control) Order 2003. Export Controls are also imposed by Council Regulation (EC) No 116/09 on the export of cultural goods. The control is enforced by the UK Border Agency on behalf of the Department for Culture, Media and Sport (DCMS).

Export Control Act 2002 
The Export Control Act 2002 replaced the export control powers contained within the Import, Export and Customs Powers (Defence) Act 1939 legislation on strategic export controls. It provides a transparent framework and increases Parliamentary accountability. It is the main UK legislation on export controls for cultural goods.

The purpose of the export control is to give an opportunity for the retention in this country of cultural goods considered to be of outstanding national importance. The system is designed to strike a balance, as fairly as possible, between the various interests concerned in any application for an export licence - for instance, the protection of the national heritage; the rights of the owners selling the goods; the exporter or overseas purchaser; and the position and reputation of the UK as an international art market.

The Reviewing Committee on the Export of Works of Art and Objects of Cultural Interest
An independent Reviewing Committee on the Export of Works of Art was first appointed in 1952 following the recommendations of the Waverley Committee. It succeeded an earlier Committee of the same name established in 1949, comprising of museum directors and officials, which heard appeals against refusals and, from 1950, all cases where refusals were recommended.  The Committee is a non-statutory independent body whose role is to advise the Secretary of State whether a cultural object which is the subject of an application for an export licence is of national importance under the Waverley criteria. The Committee consists of eight full members, appointed by the Secretary of State for Culture, Media and Sport, seven of whom have particular expertise in one or more relevant fields (for example paintings, furniture, manuscripts), and a Chairman, also appointed by the Secretary of State. 

The Committee’s terms of reference are: 

i) To advise on the principles which should govern the control of the export of objects of cultural interest under the Export Control Act 2002 and on the operation of the export control system generally.

ii) 	To advise the Secretary of State on all cases where refusal of an export
licence for an object of cultural interest is suggested on grounds of national importance.

iii) To advise in cases where a Special Exchequer Grant is needed towards the purchase of an object that would otherwise be exported.

Waverley Criteria
History	Aesthetics	Scholarship	
Is it so closely connected with our history and national life that its departure would be a misfortune?	Is it of outstanding aesthetic importance? 	Is it of outstanding significance for the study of some particular branch of art, learning or history?	
Waverley 1	Waverley 2	Waverley 3	

Chapter 2:	Findings

Findings for the latest period, 1 May 2011 to 30 April 2012 are shown below (earlier data are available in the data tables in Chapter 3):

•	There were 11,615 applications for export licences, covering a total of 50,346 items.
•	1,444 of these applications were for the export of manuscripts, documents or archives.

•	33,236 (66%) items, with a total value of £1.97 billion, were issued with export licences after they had been referred to expert adviser – this represents a substantial increase the previous year, when 19,686 items, with a total value of £1.49 billion, were issued with export licenses. The increase is likely to be a reflection of the number of exports available as well as the market conditions.

•	13,002 (26%) items, with a total value of £7.87 billion were issued with export licences after the Export Licensing Unit was satisfied that they had been imported into the United Kingdom within the past 50 years. 
•	Of these, 1,256 were manuscripts, documents or archives covering a total value of £72.1 million.

•	4,108 (8%) items, with a total value of £1.99 billion, were given an EU licence without reference to the question of national importance because the items were either: 
(a)	valued at below the appropriate UK monetary limit
(b)	owned by a museum or gallery that had an Open Individual Export Licence (OIEL)
(c)	manuscripts valued at £1,500 or less or coins valued at £500 or less and the exporter held a valid OIEL
(d)	musical instruments exported for less than three months for use in the course of work by a professional musician
(e)	a motor vehicle exported for less than three months for social, domestic or pleasure purposes
(f)	a foreign registered motor vehicle exported following importation for less than three months for pleasure purposes. 

•	68 Open Individual Export Licences issued to regular exporters for certain categories of objects were in operation over this period.  67 of these were issued in December 2010, and 1 was issued in August 2011, each taking effect for a period of three years. 
(a)	11 for the export of manuscripts, documents, archives and photographic positives and negatives; 
(b)	3 for the export of goods over 50 years of age imported into the UK within the past 50 years; 
(c)	1 for the export of UK origin coins; 
(d)	1 for the temporary export of a Rolls Royce; 
(e)	1 for the temporary export of objects in soil samples that have been taken from archaeological sites in Northern Ireland and 
(f)	51 for the temporary export of objects over 50 years of age owned by or under the control of a national institution or an institution holding a designated collection. 

Items referred by Expert Advisers to the Reviewing Committee on the Export of Works of Art and Objects of Cultural Interest: 

•	When an export licence application is objected to by an Expert Adviser it is referred to the Reviewing Committee. A meeting of the Committee is convened at which the appointed members are usually joined by three independent assessors chosen for their expertise on the object in question who are co-opted onto the Committee and are full members for the purposes of the hearing. The export licence application is considered and a recommendation is made to the Secretary of State.
•	In 2011-12, 18 cases were referred to the Committee. Of these, 6 were withdrawn before they reached the stage of consideration by the Committee. One case was referred to the Committee in this reporting period but is still awaiting consideration and the remaining 11 cases were considered.
	
•	Of the 11 cases considered by the Committee, 
•	All 11 met at least one of the Waverley criteria.
•	3 were withdrawn before they were referred to the Secretary of State for deferral.
•	1 case considered by the Committee gave rise to issues which are still being resolved.
•	7 cases were referred to the Secretary of State for deferral; all Committee deferral recommendations were accepted. 

•	The aggregate value of the 7 items deferred was £74.6 million.
•	Of the 7 cases where items were deferred, 4 resulted in acquisitions by institutions or individuals in the United Kingdom.
•	The 4 cases where items were purchased have a total value of £29.8 million (value price at deferral), which represents 40 per cent of the total value of objects placed under deferral. 
•	Export licences were issued for the remaining 3 items which have a total value of £44.8 million.

•	In 2011-12, following a request from the Secretary of State for advice, the Committee considered 1 case regarding a request for a temporary export licence application.  On the advice of the Committee, the license was not granted.
Chapter 3:	Data tables

Export of objects of cultural interest figures for 2011-12

Table 1 - Secretary of State’s Operation of the Control table as required by Section 10 (1)(a) of the Export Control Act 2002 
		1 May 2010 – 30 April 2011	1 May 2011 – 30 April 2012	
(a)	Number of applications for individual export licences	11,134	11,615	
(b)	Number of above applications which were for manuscripts, documents or archives	1,679	1,444	
(c)	Number of items licensed after reference to expert advisers 	19,686	33,236	
(d)	Total value of items in (c)	£1,487,129,756	£1,970,115,511	
(e)	Number of Open Individual Export Licences in operation having been issued in previous years to regular exporters for the export of (i) manuscripts, documents, archives and photographic positives and negatives; (ii) objects imported into the UK in the past 50 years; (iii) UK origin coins; (iv) the temporary export of a Rolls Royce; (v) the temporary export of objects in soil samples from archaeological sites in Northern Ireland; (vi)  the temporary export of objects owned or under the control of national institutions or institutions holding designated collections.	67	68	
(f)	Number of items licensed after the Export Licensing Unit was satisfied of import into the UK within the past 50 years	13,493*	13,002	
(g)	Total value of items in (f)	£8,546,102,829	£7,870,416,556	
(h)	Number of items in (f) which were manuscripts, documents or archives 	1,671	1,256	
(i)	Total value of items in (h)	£60,645,287	£72,137,155	
(j)	Number of items given an EU licence without reference to the question of national importance because they were either: valued at below the appropriate UK monetary limit;  owned by a museum or gallery that had an Open Individual Export Licence (OIEL); manuscripts valued at £1,500 or less or coins valued at £500 or less and the exporter held a valid OIEL; musical instruments exported for less than three months for use in the course of work by a professional musician; a motor vehicle exported for less than three months for social, domestic or pleasure purposes; a foreign registered motor vehicle exported following importation for less than three months for pleasure purposes; imported into the UK in the last 50 years and were being exported on a temporary basis.               	3,359	4,108	
(k)	Total value of items in (j)	£2,360,899,205	£1,993,935,304	

Table 2 - Number of cases from 2002-03 to 2011-12.
(1)
Year	(2)
Cases considered by the Committee	(3)
Cases where 
a decision on the licence application was deferred	(4)
Cases in (3) where items were not licensed for permanent export	(5)
Cases where items were not licensed for permanent export as % of (3)	(6)
Value (at deferral) of cases in (4) where items were not licensed for permanent export (£m)	(7)
Cases in (3) where items were licensed for permanent export	(8)
Cases where items were licensed for permanent export as % of (3)	(9)
Value of items in (3) (at deferral) licensed for export (£m)	
2002-03	26	23 	14	61	51.7	9	39	23.2	
July 2003-April 2004	18	9 	7	78	6.8	2	22	1.0	
2004-05	32	25 	15	60	16.2	10	40	30.2	
2005-06	22	17	9	53	8.3	8	47	7.3	
2006-07	28	19	14	74	11.8	4	21	10.7	
2007-08	18	16	9	56	2.5	7	44	12.8	
2008-09	22	16	9	56	1.5	7	44	14.2	
2009-10	14	13	7	54	10.1	6	46	60.8	
2010-11	18	14	7	50	5.9	7	50	65.8	
2011-12	11	7	4	57	29.8	3	43	44.8	
TOTAL	209	159	95	60	144.6	63	40	270.8	

Table 3 - Values associated with cases from 2002-03 to 2011-12.
(1)
Year	(2)
Cases where a decision on the licence application was deferred 	(3)
Value of items in (2) (£m)	(4)
Cases where items were acquired by institutions or individuals in the UK	(5)
Value (at deferral) of items in (4) (£m)	(6)
Value of items in (5) as % of (3) (£m)	(7)
Cases where the application was refused or withdrawn after the announcement of the Secretary of State’s decision	(8)
Value of items in (7) (£m)	
2002-03	 23	 74.9	 12	 39.2	52	 2	 12.5	
July 2003-April 2004	   9	   7.7	   7	   6.8	88	 1	  0.8	
2004-05	 25	 46.4	   10	  5.8	 13	  7	 11.3	
2005-06	 17	 15.6	    9	  8.3	 53	  0	    0	
2006-07	 19	 24.5	  12	  7.0	 29	  3	   4.8	
2007-08	 16	15.3	    8	  1.4	   9	  1	   1.1	
2008-09	16	15.7	9	1.5	10	0	0	
2009-10	13	71.5	6	10.1	14	1	0.6	
2010-11	14	71.7	4	3.8	5	3	2.1	
2011-12	7	74.6	4	29.8	40	0	0	
TOTAL	159	417.9	81	93.2	22	18	33.2	

Table 4 - Value of items placed under deferral (2002-03 to 2011-12) (i) for which permanent licences were issued and (ii) where items were purchased by UK institutions or individuals.

(1)
Year	(2)
Value of items where a decision on the licence application was deferred
(£m)	(3)
Value (at deferral) of cases in (2) where items were licensed for permanent export
(£m)	(4)
Value of items in (3) as % of (2)	(5)
Value of items in (2) that were not licensed for export
(£m)	(6)
Value (at deferral) of cases in (2) where items were purchased by UK institutions or individuals
(£m)	(7)
Value of items in (6) as % of (2)	
2002-03	74.9	23.2	31	51.7	39.2	52	
July 2003-April 2004	7.7	1.0	13	6.8	6.8	88	
2004-05	46.4	30.2 	65	16.2	5.8	13	
2005-06	15.6	7.3	47	8.3	8.3	53	
2006-07	24.5	10.7	44	11.8	7.0	29	
2007-08	15.3	12.8	84	2.5	1.4	9	
2008-09	15.7	14.2	90	1.5	1.5	10	
2009-10	71.5	60.8	85	10.7	10.1	14	
2010-11	71.7	65.8	92	5.9	3.8	5	
2011-12	74.6	44.8	60	29.8	29.8	40	
Total	417.9	270.8	65	145.2	113.7	27	

Table 5 - Items licensed for export after reference to expert advisers for advice: 1 May 2011 - 30 April 2012. 
Category	Advising authority	No of Items	 Total value (£) 	
Arms and armour	Royal Armouries, Leeds, Associate Director	37	2,093,592	
Books, maps etc	British Library, Keeper of Printed Books, Head of Map Collections	1,816	12,311,171	
Books (natural history)	Royal Botanic Gardens, Kew, Head of Library and Archives	44	8,540,330	
Clocks and watches	British Museum, Keeper of Clocks and Watches	40	6,796,940	
Coins and medals	British Museum, Keeper of Coins and Medals	242	4,837,623	
Drawings: architectural, engineering and scientific	Victoria & Albert Museum, Keeper of Word & Image Department	13	3,421,890         	
Drawings, prints, water-colours	British Museum, Keeper of Prints and Drawings 	268	155,349,521                	
Egyptian antiquities	British Museum, Keeper of Egyptian Antiquities	284	12,160,020                	
Ethnography	British Museum, Keeper of Ethnography	9	9,242,566                  	
Furniture and woodwork	Victoria & Albert Museum, 
Keeper of Furniture and Textiles & Fashion Department	95	20,029,362                   	
Greek and Roman antiquities	British Museum, Keeper of Greek and Roman Antiquities	12	4,433,222                     	
Indian furniture	Victoria & Albert Museum, 
Senior Curator of Asian Department, South & South East Asian Collection	40	5,572,955                        	
Japanese antiquities	British Museum, Department of Asia	9	1,278,780                               	
Manuscripts, documents and archives	British Library, Curator, Department of Manuscripts	7,931	152,643,983       	
Maritime material, including paintings	National Maritime Museum, Director of Collections	91	91,209                              	
Middle East antiquities	British Museum, Keeper of Middle East Antiquities	49	9,022,125	
Musical Instruments	Royal College of Music	32	15,013,268	
Oriental antiquities (except Japanese)	British Museum, Department of Asia	276	50,559,975                   	
Oriental furniture, porcelain and works of art	Victoria & Albert Museum, 
Senior Curator of Asian Department, Chinese Collection	149	46,618,203                        	
Paintings, British, modern	Tate Gallery	348	687,746,021       	
Paintings, foreign	National Gallery, Director	156	300,759,031       	
Paintings, miniature	Victoria & Albert Museum, 
Senior Curator of Painting Section, Word & Image Department	1	235,000                                  	
Paintings, portraits of British persons	National Portrait Gallery, Director	193	158,560,212                 	
Photographs	National Media Museum, Head	1,378	8,671,367           	
Pottery	Victoria & Albert Museum, Head of Ceramics & Glass Department	15	4,200,690                   	
Prehistory & Europe (inc. Archaeological material, Medieval and later antiquities & Metal Detecting Finds)	British Museum, Keeper of Prehistory & Europe
Department of Portable Antiquities & Treasure (Metal Detecting Finds)	
19,320
	119,754,782	
Scientific and mechanical material	Science Museum, Head of Collections	13	3,102,809                       	
Sculpture	Victoria & Albert Museum, 
Senior Curator of Sculpture, Metalwork, Ceramic & Glass Department
Tate Gallery (20th Century Sculpture)	108	62,754,525                   	
Silver and weapons, Scottish	National Museum of Scotland, Director	0	-                                    	
Silver, metalwork and jewellery	Victoria & Albert Museum, 
Senior Curator of Sculpture, Metalwork, Ceramic & Glass Department	202	61,958,719                   	
Tapestries, carpets (and textiles)	Victoria & Albert Museum, 
Senior Curator of Furniture, Textiles & Fashion Department	
16	        6,667,325         	
Toys	Bethnal Green Museum of Childhood, Head	0	-                                     	
Transport	Heritage Motor Centre	37	26,584,564                    	
Wallpaper	Victoria & Albert Museum, 
Senior Curator of Prints Section, Word & Image Department	0	-                                    	
Western Asiatic antiquities	British Museum, Keeper of Ethnography	12	9,103,731                	
Zoology (stuffed specimens)	Natural History Museum, Director of Science	0	-                                     	
Total	 	33,236	1,970,115,511	

Table 6 - Applications considered and deferred on the recommendation of the Reviewing Committee on the Export of Works of Art and Objects of Cultural Interest (2002-03 to 2011-12)

Year	Number of Waverley items granted a permanent export licence 	Value of Waverley items granted a permanent export licence (£)	Number of Waverley items purchased during deferral	Total amount spent on Waverley items purchased during deferral (£)	Number of Waverley items supported by HLF/NHMF	Support by HLF/NHMF (£)	Number of Waverley items supported by The Art Fund	Support by The Art Fund (£)	Number of Waverley items supported by V&A Purchase Grant Fund	Support by V&A Purchase Grant Fund (£)	
2002-03	9	23,191,548	12	26,173,106	7	14,283,115	9	905,184	1	30,000	
July 2003-April 2004	2	1,000,000	5	2,237,604	1	110,000	2	79,000	1	40,000	
2004-05	10	30,193,090	10	5,825,135	4	2,577,000	4	975,000	1	3,500	
2005-06	8	7,285,012	9	8,278,510	4	855,200	5	308,330	3	32,330	
2006-07	5	10,709,778	12	7,009,075	4	1,944,032	3	700,275	2	40,000	
2007-08	7	12,770,031	8	1,431,256	6	471,986	6	248,750	2	50,000	
2008-09	7	14,186,010	9	1,521,684	2	378,000	4	329,292	3	118,500	
2009-10	6	60,813,750	6	10,119,674.47	2	186,000	3	245,100	1	17,000	
2010-11	7	65,837,016	4	3,752,918	3	2,410,000	4	470,000	1	20,000	
2011-12	3	44,830,190	4	9,252,560	2	6,025,000	2	1,100,000	0	0	

Table 7 - Acquisitions by institutions in the United Kingdom 2011-12

Year	Item	Purchaser	Price (£)	Support by HLF/NHMF (£)	Support by The Art Fund (£)	
2011-12	A pair of Italian console tables	One table each to the V&A and National Museums Scotland	735,900 (367,950 per table)	125,000	250,000	
2011-12	A sculpture by John Nost the Elder, The Crouching Venus	V&A	485,000	0	0	
2011-12	A painting by Edouard Manet, Portrait of Mademoiselle Claus	Ashmolean Museum	7,830,000 (tax remission)	5,900,000	850,000	
2011-12	Benjamin Britten's composition draft in short score for The Young Person's Guide to the Orchestra	The British Library	201,660 (tax remission)	0	0	

Chapter 4:	Background information

Format of Statistical Release:
This release is available in rtf and pdf format.
Accompanying Excel tables in this release are also available in csv format.

Previous reports:
Statistics covering previous years can be found at: 
http://www.culture.gov.uk/what_we_do/research_and_statistics/7567.aspx

Next release of data:
Statistics for 2012-13 will be published in the last quarter of 2013.

Methodology:
The Export Licensing Unit at the Arts Council England records all export licence applications made and export licences issued in the UK for the export of cultural goods outside the UK. Its database records the following information: number of applications for individual export licences received and the date of receipt; number of individual export licences issued and the date of issue; number of items to which individual export licences or applications relate; total value of those items as given by the applicant; the type of licence issued (EU or UK), whether it has been referred to an adviser or not and whether it is temporary or permanent; a description of the items; the name and address of the applicant and the owner and the country of destination.

The database has an inbuilt programme that extracts the information required to produce the statistics contained in this release by way of “reports”. The number of Open Individual Export Licences issued and in operation at any one time is recorded on an excel spreadsheet. This records the type of object they relate to; the name and address of the holder; the date of issue and the date of expiry.

The statistics gathered from the database and the excel spreadsheet together with further details of the objects found to be of national importance have previously been published annually and most recently in the Export of Objects of Cultural Interest 2010-11.

Contact for enquiries:
Department for Culture, Media and Sport
2-4 Cockspur Street
London SW1Y 5DH
evidence@culture.gsi.gov.uk

The responsible policy contact for this release is Mark Caldon.
The responsible analyst for this release is Penny Allen
For enquiries on this release contact: 020 7211 6158
For general enquiries telephone: 020 7211 6000

Pre-release access
The list below details officials who have received privileged early access to this report. In line with best practice, the list has been kept to a minimum and those given access for briefing purposes had a maximum of 24 hours:

•	Ed Vaizey, Minister for Culture, Communications and Creative Industries 
•	Ken Hunt (Press Office, DCMS) 
•	Chris Sharrock (Deputy Director of Analysis, DCMS)

For QA and sign-off

•	Penny Allen (Evidence and Analysis)
•	Tom Knight (Head of Profession for Statistics, Evidence and Analysis)
•	Anna Payne (Head of the Cultural Property Unit, DCMS)

The UK Statistics Authority
This release is published in accordance with the Code of Practice for Official Statistics (2009), as produced by the UK Statistics Authority. The Authority has the overall objective of promoting and safeguarding the production and publication of official statistics that serve the public good. It monitors and reports on all official statistics, and promotes good practice in this area. Details on the pre-release access arrangements for this dataset are available in this release.
Chapter 5:	Glossary

Cultural goods: Certain cultural objects more than 50 years of age and valued above specified financial thresholds require an individual licence for export out of the United Kingdom whether on a permanent or temporary basis. Further information is available at http://www.artscouncil.org.uk/what-we-do/supporting-museums/cultural-property/export-controls/export-licensing/

Deferral: Where the Committee finds that an object meets one or more of the criteria, it will normally recommend to the Secretary of State that the decision on the export licence application should be deferred for a specified period. Funding Bodies which have, in this or previous years, provided funding towards purchasing items placed under deferral are

-	The Art Fund: http://www.artfund.org/
-	The Heritage Lottery Fund (HLF): http://www.hlf.org.uk/Pages/Home.aspx
-	The National Heritage Memorial Fund (NHMF): http://www.nhmf.org.uk/Pages/home.aspx
-	The V& A Purchase Grant Fund: http://www.vam.ac.uk/content/articles/p/puchase-grant-fund/

Expert Adviser: An export licence application may be referred to an Expert Adviser in a national museum or gallery for scrutiny as to national importance

RCEWA: The Reviewing Committee on the Export of Works of Art and Objects of Cultural Interest. The Committee is a non-statutory independent body whose role is to advise the Secretary of State whether a cultural object which is the subject of an application for an export licence is of national importance under the Waverley criteria. The Committee consists of eight full members, appointed by the Secretary of State for Culture, Media and Sport, seven of whom have particular expertise in one or more relevant fields (for example paintings, furniture, manuscripts), and a Chairman, also appointed by the Secretary of State.

Tax remission/Private Treaty Sales: If a heritage object is sold on the open market, the vendor may be liable to Capital Gains Tax and Inheritance Tax. However, these tax charges are not incurred if an owner sells the object by Private Treaty to a body (e.g. a museum or gallery) listed under Schedule 3 of the Inheritance Tax Act 1984. Qualifying heritage objects include any previously granted conditional exemption or an item which would qualify as of pre-eminent importance. This dispensation was extended in April 2009 to Corporation Tax on companies’ chargeable gains. This is an attractive tax exemption because benefits are shared. The vendor receives the amount that he or she would have received at the agreed market value, net after tax, but also receives a douceur (usually 25 per cent) of the tax that would have been chargeable. The purchaser normally pays what would have been paid under normal arrangements, less a proportion of the tax (usually 75 per cent) that would have been chargeable. Schedule 3 to the Inheritance Tax Act 1984 lists those museums that are able to benefit from a douceur when acquiring works of art that are subject to either Inheritance Tax, Capital Gains Tax or Corporation Tax on sale.

Further information: http://www.artscouncil.org.uk/what-we-do/supporting-museums/cultural-property/tax-incentives/private-treaty-sales/ 

Waverley Criteria: This covers the three questions

1.	Is it so closely connected with our history and national life that its departure would be a misfortune?
2.	Is it of outstanding aesthetic importance?
3.	Is it of outstanding significance for the study of some particular branch of art, learning or history?

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