With increasing Death Duty (later known as estate duty, capital transfer tax and inheritance tax) being levied on the wealthy in the late 19th century many were forced to sell off their large country houses and estates to pay for their tax liabilities. This often resulted in unique family collections of antiques and works of art being lost and dispersed. The 1896 Finance Act sought to limit the damage by exempting nationally important works of art from taxation and was strengthened by the 1903 establishment of the National Art Collections Fund which sought to acquire important paintings for the nation. Houses and collections continued to be sold however and David Lloyd George's People's Budget of 1909, with its increased land and estate taxes, would have worsened matters. However Lloyd George made a provision in the Finance Act 1910 for the creation of the Acceptance in Lieu scheme to allow land to be given to the nation in lieu of Estate Duty.
