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Private treaty sales

Items which have been granted Conditional Exemption from Inheritance Tax (or one of its predecessors) can be purchased by a Schedule 3 body (which includes most public museums, galleries and archives in the United Kingdom) at a price which is beneficial to both public purchaser and private vendor. This is known as a Private Treaty Sale (PTS).

Where an item has been granted Conditional Exemption from Inheritance Tax, which would have been payable at 40% had exemption not been claimed, and it is then sold to a public body, under normal circumstances the purchaser is only required to pay about 70% of the agreed open market value. So an item which is valued at 100,000 can be acquired for 70,000.

In most cases, owners of Conditionally Exempted items are required to give MLA three months notice of the intention to sell exempted items. You will find below the details of any items which we are notified as coming up for sale.

Further details of these items and how Private Treaty Sales are conducted can be obtained from Gerry McQuillan, Head of the Acquisitions, Export and Loans Unit at MLA on 020 7273 1456 or email gerry.mcquillan@mla.gov.uk

Notices of Intention of Sale

MLA has been informed of the intention to sell the following items which have previously been exempted from tax. Please note that the price given is intended as a rough guide only, and does not constitute an offer to sell at this price.

There are currently no items being offered for Private Treaty Sale. 

 

For further details please contact:

Anastasia Tennant
Acquisition, Export and Loans Unit
The Museums, Libraries and Archives Council
Wellcome Wolfson Building, 165 Queen's Gate
London SW7 5HD
Direct Line: 020 7273 1456
Direct Fax: 020 7273 8271

Email: anastasia.tennant@mla.gov.uk