NMDC Submission to HM Treasury consultation
Paying a fairer share: a consultation on residence and domicile
The National Museum Directors' Conference has submitted a response to the HM Treasury consultation on residence and domicile.
In summary - we believe that it is right that those who live in this country should contribute to the cost of public services. However, we are concerned about the unintended consequences of the proposed tax treatment of non-domiciles on British museums and galleries. Wealthy non-domiciles are responsible for a very significant proportion of recent gifts to museums, a source of funding which has been crucial to realising capital projects and which would cease should these wealthy individuals move abroad. A number of non-domiciles are also passionate art collectors who are likely as result of the legislation to keep their collections in a more favourable tax regime, with damaging consequences for the current and future loans from those collections which enrich our public collections.