COMMISSIONS & CORPORATE ART - Duke Street Art Ltd

Commissions are welcomed all the time from our customers and corporate clients. Whether that be a unique gift for that special someone. Or Corporate Art which can benefit your company in a number of ways.

Companies, large and small, can enhance their effectiveness and brand image by acquiring and developing an art collection - often considered as a part of the Corporate Social Responsibility programme. A fundamental reason that encourages corporate art collecting is that there have been several studies demonstrating that employee and corporate efficiency, productivity, and creativity increase when art is placed in the work place. Artwork attracts positive energy for the space in which it is displayed, for the people within the space, and the company as a whole, broadening employee appreciation of diversity and encouraging discussion, and expression of opinion.

Art in the workplace also has a positive impact on visitors and customers as well chosen artwork displayed in a reception area, meeting room or office space portrays a feeling of comfort and puts visitors and customers at ease. It also reflects the success of the company and suggests a forward thinking and dynamic company ethos.

Art humanises the work environment and gives the business a context in the lives and activities of their employees. The values of creating a stimulating and pleasant working environment for their employees demonstrate the company's integrity to clients and visitors. The art displayed supports and confirms the company's image and corporate identity, being symptomatic of the company's ethos and the trend towards making work a better place. …. And improving the quality of life for everyone.

PURCHASING ART - CAPITAL ALLOWANCES

In Ireland, an art buyer can write off the purchase cost of artwork against tax, provided that the artwork is placed in his/her place of business where the public can view it. Suitable sites are reception areas, common access meeting rooms and canteens. The establishment of a company art collection is a very 'tax-effective' acquisition as the annual 'wear and tear allowance' on this capital expenditure is, at the time of writing, 12.5% per annum and, consequently, most of the purchase price can be recovered

Wear & Tear - Legislation S284 TCA 1997 states:

Section 1

A trader who incurs capital expenditure on machinery or plant is entitled to a wear and tear allowance if the asset is in use for the purpose of his trade at the end of the basic period for the tax year.

Section 2

The annual wear and tear allowance is 12.5% on a straight line basis. Where a corporate or individual tax payer buys a work of art and displays it at their business premises for the purpose of promoting their business, the work of art is treated as machinery or plant, and is eligible for the annual wear and tear allowance of 12.5%.

Your accountant should be consulted regarding any intended art related investments and any necessary approval by the Revenue Commissioners.

Artists available for commission, but not limited to, are: