page_title: Acceptance in lieu
hierarchical_section_title: Acceptance in lieu
context_page_description: Acceptance in lieu is a provision in British tax law under which inheritance tax debts can be written off in exchange for the acquisition of objects of national importance. It was originally established by Chancellor of the Exchequer David Lloyd George as a means for the wealthy to pay the increased estate taxes imposed by his People's Budget of 1909 but had its roots in similar schemes dating to the late 19th century. It has developed from the early years when it was used mainly as a means for the aristocracy to dispose of country estates to the National Trust to the modern day when it is more associated with the transfer of works of art, antiquities and archive material to museums. The scheme is administered by Arts Council England, a non-departmental public body of the Department for Culture, Media and Sport. The scheme has brought many houses, works of art and other collections into publicly accessible institutions when they would otherwise have gone to auction. In April 2013 the Cultural Gifts Scheme was started which allows taxpayers to make a donation of art in return for a credit on income tax, capital gains tax or corporation tax.
context_section_description: Acceptance in lieu (AiL) is a provision in British tax law under which inheritance tax debts can be written off in exchange for the acquisition of objects of national importance.  It was originally established by Chancellor of the Exchequer David Lloyd George as a means for the wealthy to pay the increased estate taxes imposed by his People's Budget of 1909 but had its roots in similar schemes dating to the late 19th century.  It has developed from the early years when it was used mainly as a means for the aristocracy to dispose of country estates to the National Trust to the modern day when it is more associated with the transfer of works of art, antiquities and archive material to museums.  The scheme is administered by Arts Council England, a non-departmental public body of the Department for Culture, Media and Sport. The scheme has brought many houses, works of art and other collections into publicly accessible institutions when they would otherwise have gone to auction.  In April 2013 the Cultural Gifts Scheme was started which allows taxpayers to make a donation of art in return for a credit on income tax, capital gains tax or corporation tax.  The Cultural Gifts Scheme is also administered by Arts Council England and is reported jointly with the Acceptance in Lieu scheme.
caption: The Proscribed Royalist by John Everett Millais was acquired by the government through the scheme in 2009[1]
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