Antiques, works of art or similar (as assets of historic houses) used to settle a tax or estate duty debt with HMRC
VAT treatmentExempt
What this means for your business
- Charging VAT
- No VAT is charged because this supply is exempt.
- Reclaiming VAT
- VAT paid on costs directly related to this exempt supply cannot normally be reclaimed as input tax.
Official guidanceVAT Notice 701/12 (opens in a new tab)