Legal
The Commissioners of HM Revenue & Customs v. Executors of Lord Howard of Henderskelfe – Withers
The Court of Appeal have dismissed HMRC’s appeal and confirmed that the owners of the famous painting of Omai by Sir Joshua Reynolds were exempt from Capital Gains Tax (‘CGT’) on its sale in 2001 for £9.4 million. Background The painting was owned by the late Lord Howard and was…
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