|This masterpiece by the Venetian Francesco Guardi,|
accepted in lieu of inheritance tax, now hangs in the Ashmolean.
From the estate of artist Lucien Freud,
this work by Frank Auerbach was worth
£16.2 million in payment of tax.
As this Telegraph slide show illustrates, many masterworks – and some not so masterly – have helped Brits and their estates meet outsize tax bills.
Could the UK "in lieu of" system work for the IRS? Would it be more workable of contemporary works of volatile or uncertain value were excluded?