Draft law lets joint owners claim Cultural Gift Scheme relief from 6 April 2027

HMRC published draft legislation on 13 July 2026 to let joint owners of a work of art or heritage object each claim relief on their share when they give it under the Cultural Gift Scheme, with effect from 6 April 2027.

The scheme was introduced to let UK taxpayers donate important works of art and other heritage objects. Individuals receive a tax credit of 30 per cent of the value of the item donated, and companies receive 20 per cent. It commenced on 1 April 2013 under Schedule 14 to the Finance Act 2012.

Until now the scheme has restricted joint ownership of objects. The draft amends Schedule 14 to remove that restriction. It also gives donors one opportunity, within the five-year limit period, to amend how their remaining tax credit is allocated.

Donors must agree with HMRC how they intend to use the credit over that five-year period.

The scheme shares a budget of £40m a year with the Acceptance in Lieu scheme. HMRC expects a negligible administrative impact on museums and art galleries, and on businesses and civil society organisations.

The measure is draft legislation and is not yet law. HMRC said it is intended to improve the flexibility and accessibility of the scheme.