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US tax bill will not affect UK universities
09 January 2018 Amanda Darley, Head of Operations and Engagement
After raising concerns with Congress that a proposed new US tax bill concerning investment income could affect certain UK universities and colleges (as alerted to BUFDG members in this discussion post from November), law firm DLA Piper has confirmed to us that Congress has now amended the draft US tax bill to make clear that it was not intended to apply to the investment income of non-US universities or colleges. As finalised on 22 December 2017, Section 13701 of the Tax Cuts and Jobs Act provides that the new excise tax will apply only to those colleges and universities of which 'more than 50 percent of the students . . . are located in the United States'. So UK universities and colleges should not be affected.
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09 January 2018 
Amanda Darley, Head of Operations and Engagement
