€3m art collection returns to Fota

A FAMOUS art and furniture collection originally displayed in Fota House in Cork some 30 years ago is back in the famous residence following a donation by a local business and AIB.

The collection was handed over by McCarthy Developments and AIB to the Irish Heritage Trust under the Taxes Consolidation Act 1997.

The Wood Collection, as it is known, has been valued by the Revenue Commissioners at in excess of €3.6 million. The donors have received a tax credit to that value which they can use for past, current or future tax liabilities.