Download the Third Sector iPad edition

Beatles lyrics are the first donations under the Cultural Gifts Scheme

Culture secretary Maria Miller thanks author Hunter Davies for 'showing the way' by donating the items to the British Library

Beatles lyrics have been donated
Beatles lyrics have been donated

Letters and Beatles lyrics handwritten by John Lennon have become the first works of art to be donated to the nation under the Cultural Gifts Scheme, Maria Miller, the Secretary of State for Culture, has said.

Speaking at an event at the Historic Dockyard in Portsmouth on Friday, Miller said the journalist and author Hunter Davies, who wrote a biography of the Beatles in 1968, was the first person to donate through the scheme. He gave the items to the British Library.

The scheme, announced by the government in its 2011 autumn statement, allows the giving of pre-eminent objects, or items associated with a historic building, in return for a tax relief. The donor benefits from a reduction in income tax or capital gains liability of 30 per cent of the donated object’s value.

The British Library said that donating the items would reduce Davies’s tax bill by £319,500.

Opened earlier this year, the scheme shares an annual budget of £30m with the Acceptance in Lieu Scheme, which allows people to offer items of cultural and historic importance in full or part payment of their inheritance tax.

Miller said she was grateful to Davies "for showing the way".

She also confirmed that funding for museums and the arts would be cut by 5 per cent in next week’s comprehensive spending review, which she said was a "significantly better outcome" than many expected.

"My message to the cultural sector is that I will continue to make the case for public investment in culture, but it would be prudent to continue to strengthen your financial resilience by diversifying your income streams as far as possible," she said.

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus
Follow us on:
  • Facebook
  • LinkedIn
  • Twitter
  • Google +

Latest Jobs

Forthcoming Events

Charity Accountants' Conference

  • Thu 18 Sep 2014 - Fri 19 Sep 2014
  • Bristol

2015 and beyond - are you ready for the latest social media and digital trends?

  • Wed 24 Sep 2014
  • London

Introduction to web design

  • Fri 26 Sep 2014
  • Winchester
RSS Feed

Third Sector Insight

Sponsored webcasts, surveys and expert reports from Third Sector partners

Markel

Expert Hub

Advice on risk from a specialist insurer

How to reduce theft at your charity

Maximising security on your premises, using deterrents such as SmartWater and ensuring computer systems are secure can all prevent a theft occuring, says Wendy Cotton, a charity insurance expert at Markel

Renting a property: how to minimise the risks

Managing the risks that come with renting a property can make the difference between a charity thriving or failing

Download the Third Sector iPad edition