David Bowie’s £33 million art sale negates hefty inheritance tax bill
To put the ‘Bowie effect’ into cold hard figures, the sale was expected to raise between £11,680,000 and £17,080,000.
In fact, cumulative sale proceeds were £32,906,250. To read more on how the auction of David Bowie’s eclectic art collection demonstrates the value of art as a tax-offsetting investment, head to Spear's Wealth Management Magazine.
Related in brief posts
The rules around ownership can be a legal maze – here’s what HNWs need to know.
HMRC has launched a consultation on a review of the government's principles for taxing trusts. Fiona Poole examines the review in more detail.
In a bid for ever-increasing transparency, the UK government intends to continue the trend with the introduction of a further beneficial ownership register.