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Reynolds works acquired by Waddesdon Manor under UK's acceptance in lieu scheme

Two major paintings by 18th-century British artist Joshua Reynolds—David Garrick Between Tragedy and Comedy (1761) and Portrait of Joanna Leigh, Mrs Richard Bennett Lloyd (1775-76)—have been acquired by Waddesdon Manor in Buckinghamshire under the UK’s acceptance in lieu (AIL) scheme. The works, from the estate of Jacob Rothschild who died in February 2024, settled a combined £24.5 million in inheritance tax. Both paintings had been on loan to Waddesdon Manor, a National Trust property managed by Rothschild, since 1995.

Masterworks from Jacob Rothschild collection go to London's National Gallery and V&A under acceptance in lieu scheme

Two masterworks from the collection of the late Jacob Rothschild—Guercino's *King David* (1651) and John Deare's *Edward and Eleanor* (1790)—have been allocated to London's National Gallery and the Victoria and Albert Museum (V&A) respectively under the UK's acceptance in lieu (AIL) scheme. The Guercino painting settles £5.6 million in inheritance tax, and will be reunited with two related Guercino works already at the National Gallery. The marble relief by Deare enters the V&A's collection.