Thursday, November 25, 2010

Tax Breaks for Donors in Great Britain Urged

As reported by the Financial Times (London) (registration required for access), Nicholas Ferguson, chairman of the Institute of Philanthropy, is urging governmental adoption of greater tax benefits for the wealthy in Great Britain in order to raise charitable donations to levels in the United States.  Otherwise, he argues, governmental efforts to “fill funding gaps” with private donations will fail.  Ferguson reportedly advocates the promotion of donor-advised funds and community foundations, the deductibility of donations of “important art works,” and the deductibility of annuities in which charities have a remainder interest.


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