Art Works
(asked on 23rd January 2015) - View Source
Question to the HM Treasury:
To ask Her Majesty’s Government what assessment have they made of the case for regulation of the global art market in order to prevent crime.
This question was answered on 4th February 2015
The art market in the UK is already regulated in so far as antique and fine art dealers that accept cash payments of €15,000 Euro or more in exchange for goods are considered ‘High Value Dealers’ and fall within the scope of the Money Laundering Regulations. This is because cash-intensive businesses are considered particularly susceptible to money laundering. High Value Dealers are supervised for the purpose of these Regulations by HM Revenue & Customs.