Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Rules definition

What does Rules mean? Rules describes the written provisions that govern how a pension scheme operates—especially occupational pension schemes—usually contained in, or annexed to, the trust deed (trust deed and rules). Legislation refers to these as scheme rules (for example, Pensions Act 1995 and Pensions Act 2004 in the UK, and the Pensions Act 1990 in Ireland). Scheme rules set out eligibility, benefit structure (defined benefit or defined contribution), contributions, service and accrual, retirement options and ages, revaluation/indexation, ill‑health and death benefits, transfers in and out, leaver provisions, forfeiture, augmentation, priority on winding‑up, discretions and decision‑making, and the scheme’s amendment and termination powers. They also...

Archived: Old UK CFC regime (pre‑2013)—company definition, accounting periods, and the lower level of taxation test (including designer rate provisions)

Published by a LexisNexis Tax expert

Practice notes

ARCHIVED: This Practice Note is archived, is not maintained and is no longer updated. It covers the former CFC regime that applied up to, and including, the first accounting period of a CFC beginning on or after 1 January 2013, when the new Rules took effect. For guidance on comparable topics under the new rules effective from that date, see: CFC rules—definitions of company and accounting period and New CFC rules—entity level exemptions: not subject to a lower level of tax.

A company will be a controlled foreign company (a CFC) for an accounting period where it is:

resident outside the UK—see Definition of a CFC—residence for further explanation
controlled by UK-resident persons (controller residence is discussed in Definition of a CFC—residence, and the meaning of control is set out in Definition of a CFC—control), and
subject to a lower level of taxation in the Territory in which it is resident—see below for more detail

Meaning of Company in the CFC context

For these purposes, ‘company’ carries the broad corporation tax acts meaning, namely any body corporate or unincorporated association (for further information see: Who is liable to pay corporation tax?)...

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Web page updated on 21/05/2026

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