§ Mr. Faulds
To ask the Minister for the Arts whether he will list the objects and property accepted in satisfaction of capital transfer tax and inheritance tax during the financial year ended 31 March; if, in listing them, he will specify(a) the amount of tax satisfied in each case, (b) whether any offers of objects carried conditions as to destination, (c) the dates in each case of the recommendations received by him from the Museums and Galleries Commission for the acceptance of objects, (d) the total for the financial year of the tax thus satisfied and (e) the means by which that total has been covered in the public accounts; and whether a press notice will be issued from the Office of Arts and Libraries comprising the information given in his reply.
§ Mr. Luce
The information the hon. Member requests is as follows:239W
Item Offered Amount of Tax Satisfied (£) Condition as to Destination Date of receipt of MGC's recommendations Two paintings by Belloto 412,500 None 24 February 1987 Archives of Lord Clark of Saltwood 144,870 None 13 March 1988 Chattels at Hagley Hall 34,100 To remain in situ Residue of offer first recommended 11 October 1985 Picasso's "Weeping Woman" 1,200,000 Offer conditional on allocation to Tate Gallery 11 May 1987 Derby Commemorative Jug 13,750 None 11 May 1987 Raeburn Portrait 96,250 None MGC Recommendation went to Secretary of State for Scotland on 21 May 1987 Twenty Vignettes by Turner 233,750 Offer conditional on allocation to Scottish National Galleries MGC Recommendations went to Secretary of State for Scotland on 22 July 1987 Ten Portrait Miniatures 200,344 None 11 May 1987 Henry Moore Drawings 153,456 Offer conditional on allocation to the British Museum 1 September 1987 Constable's "Stratford Mill" 5,500,000 None 4 March 1987 Gainsborough's "Captain Wade" 638,444 Offer conditional on allocation to Bath City Council 15 January 1988 Total Tax Satisfied 8,627,464
The total amount of tax satisfied in 1987–88 was £8,627,464 and a call on the Reserve of £7,388,444 was made, of which £6,627,464 was spent. A press notice is being issued in conjunction with this reply.
§ Mr. Faulds
To ask the Minister for the Arts whether he will state the total amounts of tax satisfied consequential on the acceptance of objects and property in lieu of capital transfer tax and inheritance tax which have been covered in the public accounts by means of resort to the Reserve for contingencies in each of the three completed financial years since the written answer on 26 July 1985 made on behalf of the then Minister for the Arts,Official Report, column 777.
§ Mr. Luce
The amount of tax satisfied by means of resort to the Reserve in the last three financial years is listed in the table. Due to underspends in each financial year on the annual vote of £2 million provided for the acceptance-in-lieu of objects and property the amount actually spent from the Reserve was less than the original call. I list the actual money spent from the Reserve for the hon. Member's information.
Year Amount of tax Satisfied/Call on the Reserve Amount actually spent from the Reserve £ £ 1985–86 520,000 366,707 1986–87 1,165,000 947,842 1987–88 7,338,444 6,627,464 Total 9,023,444 7,942,013