Displaying items by tag: inheritance tax

More than 40 paintings, drawings and birthday cards by Frank Auerbach, all of them owned by his friend and admirer Lucian Freud, have gone on public display as a group before they are dispersed to collections around the UK.

In May it was announced that Freud's estate had offered the 15 oil paintings and 29 works on paper by Auerbach, one of Britain's greatest living artists, to the government in lieu of around £16m of inheritance tax.

Because the bequest is so large and valuable it is being split up with museums and galleries now bidding for different works and groupings of works. Before that happens all the works are being displayed together at Tate Britain.

Edgar Degas’ (1834-1917) La Masseuse (The Masseuse), which was once owned by the German-born British painter Lucien Freud (1922-2011), has been given to the Walker Art Gallery as part of the British government’s Acceptance in Lieu (AiL) of law. The AiL is a provision under which inheritance tax debts can be written off in exchange for the acquisition of objects of national importance.

The Degas sculpture was one of three works by Degas bequeathed to England following Freud’s death. The Walker Art Gallery, which is located in Liverpool and houses one of the largest art collections in England outside of London, was granted the sculpture after a competitive process with other UK museums and galleries. La Masseuse, Degas’ only two-figure sculpture, will join the artist’s painting Woman Ironing at the Walker.

Xanthe Brooke, Curator of European Art at the Walker Art Gallery, said, ‘We’re very grateful to Arts Council England for allocating the sculpture to the Walker Art Gallery, where it will be appreciated by an enthusiastic and diverse audience.”

The late German-born British painter, Lucian Freud (1922-2011), specified in his will that his private art collection was to be donated to British museums rather than burdening his family with an inheritance tax after his death. The bequest is part of a British law that allows “acceptance in lieu” of taxes for authors, artists, and collectors.

Considered one of Britain’s greatest painters best known for his portraits and figurative works, Freud owned a number of important masterpieces including Jean-Baptiste Camille Corot’s (1796-1875) Femme á la Manche Jaune (The Italian Woman or Woman with Yellow Sleeve) and three bronze sculptures by Edgar Degas (1834-1917). It has been determined that the Corot painting, which has not been on public view in over 60 years, will go to the National Gallery in London and the Degas sculptures, Horse Galloping on Right Foot, La Masseuse, and Portrait of a Woman Head Resting on One Hand, will go to Somerset House’s Courtauld Gallery.

The donation is a thank you of sorts from Freud to Britain. The grandson of Sigmund Freud, Lucian escaped Hitler’s wrath when he came to England as a child. He became a British citizen in 1939.

Over fifty major works totaling about $64 million were offered as payment to the UK for nearly $40 million worth of inheritance tax that accumulated between 2010 and 2012. Those in control of the estates of authors, artists, and collectors have been allowed to use cultural and historical artifacts to pay the tax since 1910.

The UK has recently received a number of masterpieces including two oil portraits of aristocratic families by Sir Joshua Reynolds, a renowned 18^th century English artist. One portrait will be placed in the Tate and the other will go to the Bristol Museum and Art Gallery. Other works include two landscapes by JMW Turner; an oil sketch by Peter Paul Rubens titled The Triumph of Venus that will be placed in Cambridge’s Fitzwilliam Museum; a work by Italian 17^th century master Guernico that has been allocated to the National Gallery; and four sculptures and three works on paper by Barbara Hepworth.

The ability to donate significant works to pay off inheritance tax has introduced a number of remarkable pieces to the UK’s galleries and museums, bringing monumental works out from behind closed doors and into the public arena.