UK Accepts Portrait by Sir Joshua Reynolds in Place of $6 Mil Tax

artnet News | Eileen Kinsella:

The Tate in London is the lucky beneficiary of the latest instance of art being accepted in lieu of a hefty $6.1 million (£4.7 million) inheritance tax, according to the Arts Council England. The work, a major full-length portrait of the 5th Earl of Carlisle (1748–1825), at age 20 was painted by Sir Joshua Reynolds in 1769, at the request of the sitter. It has been hanging on the walls of Castle Howard in North Yorkshire for over 200 years and will remain on public display there, according to the Arts Council. However, the portrait won’t stay there. According to the press release, it will make a trip “elsewhere around the country including Tate Britain.”… Read more

Image: Sir Joshua Reynolds Portrait of Frederick, 5th Earl of Carlisle (1769)