The Tate in London has acquired a full-length portrait by Joshua Reynolds of the 5th Earl of Carlisle (1748–1825) through the UK's Acceptance in Lieu scheme, which allows art to be transferred to the nation in place of inheritance tax. The painting, valued at $6.1 million (£4.7 million), was painted in 1769 and had hung at Castle Howard in North Yorkshire for over 200 years. It will remain on public display there but will also travel to other venues including Tate Britain.
This acquisition matters because it demonstrates how the Acceptance in Lieu program continues to enrich the UK's national collections while helping families settle tax bills. The portrait is the first full-length male portrait by Reynolds to enter the Tate collection, and it highlights the ongoing importance of tax-incentive schemes in preserving cultural heritage. Reynolds's market strength is underscored by his auction record of $14.6 million, set in 2001 for a portrait of Omai.