Taxes Consolidation Act 1997 section 236

Loan of certain art objects

Section 236 provided an exemption from benefit-in-kind charges where an employer loaned a qualifying work of art or scientific collection to an employee or director, provided the object was kept in an approved building or garden and made accessible to the public.

• A body corporate that loaned an art object it beneficially owned to an employee or director was exempt from the benefit-in-kind charge under section 118 and the distribution charge under section 436, provided the object was kept in an approved building or garden owned or occupied by the individual.
• The object had to be determined by the Minister to be of significant national, scientific, historical or aesthetic interest, and by Revenue to have reasonable public access and viewing facilities — at least 60 days per year (40 between 1 May and 30 September), for at least 4 hours each day.
• Revenue could revoke their determination if public access or viewing facilities ceased to be reasonable, ending the exemption from the date access was considered to have ceased.
• This exemption ceased to have effect for the year of assessment 2010 and subsequent years.