ECSH54600 - Art Fairs & Overseas AMPs
Many Art Market Participants (AMPs) will
conduct business through art fairs. The UK has always been popular for art
fairs, with hundreds of thousands of visitors attending and purchasing artwork.
Art fairs range in size, from small fairs with a few exhibitors, to huge fairs with hundreds of millions of pounds worth of art being sold.
Key art fairs in the UK include, but are not limited to:
- Frieze London
- Frieze Masters
- London Art Fair
- British Art Fair
- Photo London
- 1-54 Art Fair
Exhibitors coming from outside the UK for art fairs are “carrying out business in the UK” and are therefore subject to the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR2017) if trading in works of art over the AMP threshold. For more information on carrying out business in the UK see ECSH43000.
In order for an exhibitor from outside the UK to register for supervision from HMRC, they must first register as a non-established taxable person (NETP). For information on how businesses can register as a NETP, please see VAT Notice 700/1.
Once an exhibitor from outside the UK is registered as a NETP, they will have a government gateway account which they can try to use to register with HMRC for anti-money laundering supervision. If the exhibitor experiences any issues with registering in this way, they should email us at MLRCIT@hmrc.gov.uk.