Starting from April this year, the annual budget for the UK's "Cultural Gifts Scheme" has been increased from £30 million to £40 million, and this increase will be maintained for the next five years.
The "Cultural Gifts Scheme" was launched by the UK Department for Culture, Media and Sport in April 2013, aiming to encourage taxpayers to permanently donate works of outstanding artistic and historical heritage value for public collections.
In return, donors receive corresponding tax relief based on the value of the donated works. According to the report, the total tax relief for this scheme has been increased by £10 million in the new fiscal year, which will encourage more taxpayers to donate artworks to the nation.
