| In any working environment having something to look at can undoubtedly make an enormous difference to peoples lives. But what are the financial advantages to the average business of buying a piece of 'ART'? Any piece of art can be purchased and written off as a fixture and fitting. On this article the purchaser will be entitled to 25% tax relief on the total price in the first year. Thereafter,the nominal price is reduced each year and 25% of that nominal value continues to be tax deductable. Ninety percent of the asset is, therefore written off over eight years. However, your painting or your sculpture is not at all like your office furniture. It will continue to give you visual pleasure for many years as you own it and the probability is, and this is surely an essential part of the fun of making a personal choice, that it will hold its original value and may even, over time, appreciate considerably. Michele Mills, agent and consultant. |
