Exploring the tax frameworks behind cultural philanthropy
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Private Wealth Partner, Natasha Hassall, discusses the role that tax incentives can play in supporting cultural philanthropy and encouraging donations to museums and public collections.
She highlights the success of the Cultural Gifts scheme, noting that while it requires careful tax planning, it has encouraged individuals to gift important cultural assets to museums. Natasha explains that, despite not offering a complete tax break, the scheme has proven an effective way of promoting charitable giving.
Natasha also comments on the Acceptance in Lieu scheme, explaining how it can be incorporated into estate planning by enabling culturally significant objects to be transferred into public ownership while helping to settle inheritance tax liabilities. Drawing on her experience advising clients, she suggests that increasing the scheme’s budget could encourage further philanthropic support for museums and the wider cultural sector.
The full article was published by ACCA in September 2026.
