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Acceptance in lieu
Acceptance in lieu (AiL)〔 is a provision in British tax law under which inheritance tax debts can be written off in exchange for the acquisition of objects of national importance. It was originally established by Chancellor of the Exchequer David Lloyd George as a means for the wealthy to pay the increased estate taxes imposed by his People's Budget of 1909 but had its roots in similar schemes dating to the late 19th century. It has developed from the early years when it was used mainly as a means for the aristocracy to dispose of country estates to the National Trust to the modern day when it is more associated with the transfer of works of art, antiquities and archive material to museums. The scheme is administered by Arts Council England, a non-departmental public body of the Department for Culture, Media and Sport. The scheme has brought many houses, works of art and other collections into publicly accessible institutions when they would otherwise have gone to auction.
== History ==
With increasing Death Duty (later known as estate duty, capital transfer tax and inheritance tax) being levied on the wealthy in the late 19th century many were forced to sell off their large country houses and estates to pay for their tax liabilities.〔 This often resulted in unique family collections of antiques and works of art being lost and dispersed.〔 The 1896 Finance Act sought to limit the damage by exempting nationally important works of art from taxation and was strengthened by the 1903 establishment of the National Art Collections Fund which sought to acquire important paintings for the nation.〔 Houses and collections continued to be sold however and David Lloyd George's People's Budget of 1909, with its increased land and estate taxes, would have worsened matters.〔(【引用サイトリンク】url=http://www.mla.gov.uk/what/cultural/tax/~/media/Files/pdf/2010/AELU/MLA_acceptance_in_lieu_report_2009_2010 )〕 However Lloyd George made a provision in the Finance Act 1910 for the creation of the Acceptance in Lieu scheme to allow land to be given to the nation in lieu of Estate Duty.〔
The scheme was little used in its early years owing to the disruption of the First World War and the Treasury's insistence that any shortfall in tax caused by the scheme was made up by reductions in the budget of a government department.〔 The government made it easier for country estates to be given to the nation in the National Trust Act of 1937 and the Finance Act of 1953, which allowed for the contents of houses to be transferred also.〔 The years after the Second World war saw a large number of houses given to the nation in this manner and brought into the custody of the National Trust.〔 A minor scandal erupted in 1977 when the Treasury refused to accept the late Lord Rosebery's Mentmore house in lieu of £2 million of inheritance tax, seeing it instead sold at public auction for £6.25 million and enter private hands.〔 As a result new guidelines for the scheme were introduced by the 1980 National Heritage Act.〔
Conservative Minister for the Arts Lord Gowrie provided a guaranteed allocation of £10 million a year (later increased to the present level of £20 million) from the Treasury reserves to make up the tax revenue shortfall arising from objects received for the nation.〔 Having originally been associated mainly with the acquisition of country estates for the National Trust by the late 20th century the scheme was becoming known more for accepting works of art and archival material for national, regional and local collections.〔 This is due to a decline in inheritance tax levels from 75% in 1975 to 40% by 1988, rising artwork prices and more effective tax arrangements made by the owners of large, historic houses.〔 Since 1984 only one country house has been given to the nation through the Acceptance in lieu scheme, this being Seaton Delaval Hall which was allocated to the National Trust in 2009.〔 The scheme continues to provide a valuable means of preserving national treasures and has provided objects worth £140 million to public collections in the five years following 2006.〔(【引用サイトリンク】url=http://www.publications.parliament.uk/pa/cm200506/cmselect/cmcumeds/912/912we03.htm )〕 Though the National Trust is still a large recipient of assets, receiving more than £21 million worth in 2000–10, objects are allocated to a wide variety of institutions of all levels across the country and there are few major public collections that have not received a donation from the scheme.〔
抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』
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