MLA, the Museums, Libraries and Archives Council, has acquired £4.5 million worth of items of cultural importance for the nation – all thanks to the Acceptance in Lieu scheme. Amongst the nation’s latest treasures are ten Barbara Hepworth sculptures and a Turner pencil and watercolour.
The MLA’s Acceptance in Lieu (AIL) scheme allows works of art and heritage objects to be offered to the nation to satisfy inheritance tax. It has been operating for more than half a century. In that time it has brought thousands of objects into public collections and saved many houses and their contents which now belong to the National Trust. In the last five years alone, items valued at over £140m have been acquired through the scheme and allocated to public collections. In the latest batch of acquisitions, 31 items have been acquired for the £4.5 million outlay over the past few months.
