Jurisdiction(s):
United Kingdom

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: UK corporation tax Patent Box grandfathered rules (pre‑1 July 2016)—standard non‑streamed calculation, routine return, small claims, marketing assets deduction and pre‑grant profits

Published by a LexisNexis Tax expert

Practice notes

ARCHIVED

The rules set out in this archived Practice Note apply to companies that most recently opted into the patent box regime for an accounting period commencing before 1 July 2016, in respect of qualifying IP the company applied for or acquired before 1 July 2016 (or, in certain cases, 2 January 2016). Different rules then apply to any new qualifying IP acquired after that date. The revised approach in Practice Note: Patent box calculation of relief—new rules applies to all companies from 1 July 2021. The patent box is an optional regime delivering an effective 10% corporation tax rate on worldwide profits linked to qualifying patents and comparable intellectual property rights. Profits within the scope of the patent box are, in effect, charged to corporation tax at the reduced rate of 10%—see Practice Note: Commencement and phasing in of patent box relief below. The legislation gives effect to the relief by permitting a deduction to be taken when computing the company’s trading profits for the relevant accounting period. For more information on the patent box in general, see Practice Note: Patent box—key features of the regime...

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Web page updated on 21/05/2026

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