Will Lord Andrew Lloyd-Webber win the court battle with the taxman over a 19th century masterpiece?

The Andrew Lloyd Webber Art Foundation bought "St Cecilia", by John William Waterhouse, for £6.6million in 2000 using a donation from the composer.
Part of the cost of the picture - thought to be around £1million - was funded through the "gift aid" scheme, which allows charities to claim tax relief on donations.
Since then, Lord Lloyd-Webber's foundation has lent the picture to the composer so that he can hang it privately at his homes or offices.

Gift aid rules state that "if any donor ... benefits significantly from their donation, then their donations will not qualify for gift aid".
The composer has each time paid rent on the loan of the Waterhouse to ensure that he is not benefiting from the picture.
His foundation argues that it lends the picture to Lord Lloyd-Webber when it is not on loan to a gallery because it would be too costly to store the painting on its own.
The painting was hung in the composer's private property for seven out of the past 29 months, including last year for 109 days when the composer paid £3,847 in rent - £35 a day - to his foundation. This rate is set by auction houses Christies and Sotheby's.
The dispute centres on HM Revenue and Customs' claim that the peer is not paying enough rent to his foundation.
The row is set to be played out in court next year. If Lord Lloyd-Webber and the charity loses the action the gift aid saving could have to be repaid to the HM Revenue and Customs.

Lord Lloyd-Webber told The Daily Telegraph he was "baffled and saddened by this case and the tragic waste of large sums of money which could otherwise have been used for charitable purposes".

http://www.telegraph.co.uk/news/newstopics/celebritynews/3534690/Andrew-Lloyd-Webber-facing-court-battle-over-6.6million-painting.html