Want an Interest Free Loan to Buy Art?
Published December 11, 2004
Want an Interest Free Loan to Buy Artwork?
You spot a Chris Ofili print and think it would look lovely in the front room. You simply must have that Tracey Emin drawing to hang above your fireplace. Then you see the four-figure price tag and think again.
Those frustrations are over, if the Arts Council England gets its way. It is planning to offer interest-free loans of up to £2,000 to aspiring contemporary art collectors, aiming to encourage uninitiated buyers into galleries. I don't know how I missed this story, but I guess the British, with their 17% Value Added Tax (VAT) on top of things can come up with ideas such as this.
Of course don't forget to add 17% VAT to the Chris Ofili print or Tracey Emin drawing. So the loans appear to be a way to gather some new tax revenues in the form of loans.
Ha! Those devious British taxmen! The Beatles were right!
Let me tell you how it will be
There's one for you, nineteen for me
'Cause I'm the taxman, yeah, I'm the taxman
- Want an Interest Free Loan to Buy Art?
- Published: December 11, 2004
- Type:
- Section: Culture
- Writer: Lenny Campello
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- Lenny Campello's personal site
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