Case Studies

A-work-of-art
  • Client:
    Alan Davie's estate

A work of art

Alan Davie is described by the Daily Telegraph as “arguably Scotland’s most respected painter of the post-war era”. He died in April 2014 and we are dealing with his estate. He left over 6,000 works of art in his collection and was still painting at the time of his death.

Issues have arisen in terms of Inheritance Tax and the impact of Business Property Relief as well as significant complexity in terms of aspects of Value Added Tax. Further detailed advice was also needed in terms of the construction and interpretation of the Will of the Deceased. The estate is worth approximately £25m.

"This is exactly why we like to work with people who understand the industry and can identify potential issues and create solutions."

Jon Saltinstall, Senior HealthCare Banking Consultant, Lloyds Bank