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For art’s sake
Our client has an international reputation having spent his life working in the arts writing books catalogues and articles curating exhibitions judging and lecturing etc. We have prepared accounts as ‘art critic writer lecturer etc’.
Two relations were eminent foreign artists writers and filmmakers. When they died about 20 years ago our client inherited a considerable amount of material including films paintings manuscripts correspondence drawings etc.
During these years he has spent a considerable amount of time arranging and collating this material exhibiting and selling paintings arranging the publication of books and catalogues collecting royalties etc.
Occasionally a profit was made from these estate activities and we informally agreed with a local Inspector of Taxes that this should be treated as a separate second trading venture.
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