In order to bolster the struggling British art economy, the UK Treasury has extended the window for fine art and antiques from overseas to enter the country without incurring import duties. The Temporary Admission (TA) scheme, which previously allowed goods to remain tax-free in the UK for two years, has been expanded to four years. This policy shift, announced by Exchequer Secretary James Murray on 11 March, is expected to significantly enhance the UK’s competitiveness in the global art trade.
Under the revised rules, dealers will pay no import tax on works brought into the UK, provided they are re-exported within four years. The move is particularly significant for London, one of the world’s top three art market hubs alongside New York and Hong Kong. Unlike the UK, neither of these cities imposes import taxes on art and antiques, a disparity that has placed London at a disadvantage, especially following Brexit. Anthony Browne, president of the British Art Market Federation (BAMF), notes that Brexit-related tariffs have further increased the cost of importing art into the UK, exacerbating the challenges faced by the sector.
The UK’s art market has already felt the strain of increased bureaucracy. According to the latest UBS/Art Basel Art Market Report, which cites United Nations data, the value of art imports and exports fell by 16% between 2022 and 2023. Browne highlights that TA applications “shot up” post-Brexit as goods entering the EU became subject to a 5% import duty. “This change simplifies the system and makes it much easier to use the UK as a trading destination,” he says. The additional two years of relief will also provide dealers greater flexibility, reducing the pressure to sell quickly in a challenging market.
The extension aligns with a 2023 pledge by the previous Conservative government to streamline art imports. Browne views the policy shift as a sign of confidence in the new Labour government under Prime Minister Keir Starmer, suggesting it demonstrates a willingness to adapt policies to meet the specific needs of the art trade.
The government has framed the move as part of a broader effort to maintain the UK’s competitive edge. Chris Bryant, Minister of State for the Department of Media, Culture and Sport (DCMS), stated: “Our art market is bigger than the rest of the EU art market put together, and we want to keep it that way. We pledged to take action to help the British art market, and that’s precisely what we’re doing.”
The TA extension represents a significant victory for BAMF, which advocates for the art and antiques trade. “Lengthening TA is one of the main things dealers ask of us,” Browne says. While the federation’s primary goal remains the abolition of import VAT—a measure that would return the UK to pre-1995 regulations—Browne acknowledges this is currently “unfeasible.” The TA extension, he says, is a “second-best outcome.”
However, challenges persist. BAMF continues to engage with the government on anti-money laundering regulations, which it argues need to be more targeted to avoid disproportionately affecting smaller businesses. Tom Christopherson, BAMF’s recently appointed chairman, also emphasises the importance of arts education, calling for reintroducing arts-based subjects in schools to nurture future talent and sustain the UK’s global leadership in the arts sector.
The TA extension marks a critical step in revitalising the UK art market, but as Christopherson notes, “the battle is far from over.”