Finance Act 2012

Pre-eminent property

22 (1) In this Schedule, “pre-eminent property” means—

(a) any picture, print, book, manuscript, work of art, scientific object or other thing that the relevant Minister is satisfied is pre-eminent for its national, scientific, historic or artistic interest,

(b) any collection or group of pictures, prints, books, manuscripts, works of art, scientific objects or other things if the relevant Minister is satisfied that the collection or group, taken as a whole, is pre-eminent for its national, scientific, historic or artistic interest, or

(c) any object that is or has been kept in a significant building if it appears to the relevant Minister desirable for the object to remain associated with the building.

(2) A “significant building” is any building falling within section 230(3)(a) to (d) of IHTA 1984 (acceptance of property in lieu of tax).

(3) “National interest” includes interest within any part of the United Kingdom.

(4) In determining whether an object or collection or group of objects is pre-eminent, regard is to be had to any significant association of the object, collection or group with a particular place.