Policy paper

Cultural Gift Scheme reform

This measure is about reforms to the Cultural Gift Scheme allowing joint owners to claim relief and providing greater flexibility in tax credit allocation.

From:: HM Revenue & Customs
Published: 13 July 2026

Documents

Reforming the Cultural Gift Scheme

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Draft legislation

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Draft legislation (accessible version)

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Explanatory note

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Details

The measure amends Schedule 14 to the Finance Act 2012 by removing the restriction on joint ownership of objects under the Cultural Gift Scheme. It allows donors one opportunity within the existing five-year limit period to amend their remaining tax credit allocation.

The changes take effect from 6 April 2027.

The measure is intended to improve the flexibility and accessibility of the Cultural Gift Scheme. If you have any questions about this change, contact jake.botham@hmrc.gov.uk.

Published 13 July 2026