Anglo-American Charitable Giving
Here’s some good news for a change. US citizens living in the UK who pay taxes in both countries can receive tax deductions in both countries for charitable giving.
In this Tanager Talk, Stuart Horwich, a founder and director of the Anglo-American Charitable Foundation, explains how.
Stuart begins the interview by describing how gifting works in both countries. As most listeners know, in the US you get a tax deduction for giving a donation to a public charity. In the UK, although the process is slightly more complicated, the end result is similar.
By using the Anglo-American charity, a US citizen can receive tax deductions in both countries because the charity is qualified in both countries. As a result, a gift is both a tax deduction for US tax purposes and eligible for Gift Aid Reclaim in the UK. In essence an $80 gift becomes a $100 gift to the recipient thanks to Gift Aid.
The donor nominates the recipient charity, which could be the Royal Opera House in London or Harvard University. 99.5% of charities in both countries qualify for donations through the Anglo-American Charity: “In 11 years we have always followed the wishes of the donor and if we cannot, we do not take the donation.”
When asked why he and Tanager partner Jeff Hedges set up the charity 11 years ago, Stuart responded that they had identified a clear need for Americans residing in the UK who wanted to give to charities to receive the benefits of any gifts in both countries. Anglo-Saxons are charity minded and donations to good causes were encouraged as far back as the time of Elizabeth I.
The Charity is run on a pro-bono basis. Any surplus beyond the administrative expenses is given to good causes such as Plan International that helps disadvantaged children worldwide with such things as clean water. “We have funded 1,500 latrines in Burkina Faso, inoculated 90,000 children in the Philippines, built birthing centres and schools”. Stuart has visited Plan projects in Bolivia and Honduras and been very impressed with their life changing impact on the local community.
Find out more about the Anglo-American Charity at www.anglo-americancharity.org. You may contact the charity by email: firstname.lastname@example.org