It's a collectible. Tax loopholes available for assets such as handbags and artwork so they can avoid as much inheritance tax as possible.
Replies
Although we don’t know the nationality of the purchaser. It was auctioned in Paris. We should tax inherited property when it is sold.
jul 11, 2025, 9:05 am • 7 0 • view
Do they not have to pay capital gains tax?
jul 11, 2025, 9:42 am • 1 0 • view
Yes, possibly. I would imagine it is a Trust that has bought it rather than an individual but I don't know.
jul 11, 2025, 10:31 am • 0 0 • view
Do we know what the nationality of the seller is?
jul 11, 2025, 10:36 am • 0 0 • view
Possibly, but cgt is generally 24% with allowances; IHT is 40%.
jul 11, 2025, 9:48 am • 1 0 • view
In this case this rather assumes the seller is British, which seems unlikely.
jul 11, 2025, 10:33 am • 0 0 • view
I haven't read the article.
jul 11, 2025, 10:49 am • 1 0 • view