QROPS - Qualifying Recognised Overseas Pension Schemes were introduced in 2006 as part of a major overhaul of Britain\'s pension framework, aimed at simplifying pension transfers to another country. New legislation was passed by the UK tax authority, HM Revenue and Customs (HMRC), in order to comply with an EU directive that pensions be free to move across Europe\'s borders. This ruling means that individuals, wishing to retire to countries such as France, Spain and Portugal can effectively take their UK pension funds with them: http://www.axis-finance.com/what-are-qrops.php
Who can apply for a QROPS?
A QROPS is specifically designed to allow anyone, not intending to retire in the UK, to transfer existing and frozen UK pension plans into a more appropriate retirement vehicle.
Individuals who are, or have been members of a UK registered pension fund and are currently living outside of the UK, or intending to leave the UK on a permanent basis, can consider transferring their retirement fund into a QROPS: http://www.axis-finance.com/qrops-living-in-France
Transfers to QROPS
The UK Government allows transfers to QROPS to be made free of UK tax. Their aim is to simplify the affairs of individuals leaving the UK on a permanent basis and to encourage them to continue saving in order to provide an income when they retire. There is no official limit to the amount of funds that may be transferred to a QROPS: http://www.axis-finance.com/qrops-France-pension-transfers
QROPS - HMRC Rules
What makes a scheme a QROPS?
In order to transfer your UK pension into a QROPS, it is necessary for the overseas pension scheme to be accepted by HMRC. The criteria outlined by HMRC for an overseas scheme to qualify as a QROPS include:
- The pension scheme must be established outside of the UK
- It must be recognised for tax purposes in the country where it is located
- It must be regulated in the country in which it is established
Age that benefits can be taken from a QROPS
The QROPS regime mirrors that of a regulated pension scheme in the UK. Benefits, including lump sum payments, from the transferred funds may not be distributed earlier than the normal retirement age of 55, if an individual has been a non-UK resident for less than five complete tax years: http://www.axis-finance.com/qrops-living-in-France-HMRC-Rules
QROPS Reporting requirements
HMRC should be notified if a payment is made within the first five tax years of a member becoming non-UK tax resident. Any benefits paid before five complete tax years of non-UK residency and not in accordance with UK Pension rules will be deemed an unauthorised payment.
The scheme manager does not have to notify HMRC if the payment is made 10 or more years after the day of the transfer that created the QROPS fund for the \'relevant member\', provided that the person is non UK resident for the duration of this period. This 10 year \'bracket\' for reporting payments took effect as of 6 April 2012.
QROPS List
When transferring your UK pension to a scheme overseas, it is important to check that the scheme meets the conditions to be a qualifying recognised overseas pension scheme (QROPS). Not all transfers to overseas or offshore schemes are QROPS transfers; it is therefore essential to verify that the scheme receiving your UK benefits is on the QROPS list published by HMRC, otherwise a transfer will be treated as a transfer to a non-qualifying overseas scheme and substantial penalties may be applied by HMRC at the time of transfer: http://www.axis-finance.com/qrops-list-living-in-France
How do I know if it is a legitimate QROPS scheme?
QROPS approved plans that agree to have their details published are listed on the HMRC website. A UK Pension administrator will confirm a QROPS listing before agreeing to a transfer. If not listed, the administrator will contact HMRC
The tourism Authority of Thailand or TAT organize a press conference at Queen Sirikit National Convention Center on July 8, 2013 to announce the Action plan for 2014 to the private sector as well as local and international media. For 2014 , TAT has set a target of 28 Million international tourists which will bring in the revenue of 1.3 trillion baht, More than 135 % for this year. This year, The core theme of Higher Revenue through Thainess will be emphized and implemented via marketing strategies. This concept will traget custormer segments to experience Thai way of life and Thai cluture.
The last year saw many achievements for Chengdu’s meetings, incentives, conferences and exhibitions (MICE) industry. According to data from the Chengdu Municipal Statistics Bureau, Chengdu hosted 530 major exhibitions, conferences and forums in 2014, of which 214 were exhibitions, 45 more than a year earlier or a year-over-year (YOY) growth rate of 26.6 percent, and 113 were international conferences and forums, 8 more than a year earlier, or a YOY growth rate of 7.6 percent. The events took up 3.25 million square meters of space in the aggregate, a YOY growth rate of 8.0 percent, of which 49 were international in nature, occupying 1.74 million square meters, a YOY growth rate of 16.0 percent. Direct revenue derived from the industry for 2014 totaled 6.95 billion yuan, up 14.9 percent year-on-year while overall revenue (direct plus indirect) revenue reached 58.4 billion yuan, up 14.5 percent year-on-year.
To view the Multimedia News Release, go to http://www.multivu.com/players/English/7511651-chengdu-china-mice-industry/
InformationWeek announces the launch of a unique series of executive events called The Mobile Business Futures Summit, which take place in May and June in New York, Toronto, San Francisco, and Chicago. The events, which are designed to provide business executives with new ideas for empowering employees, improving customer experience, and unlocking additional revenue streams through mobile computing, are expected to attract more than 50 influential business executives in each city. The event series is being sponsored by MicroStrategy.
To view the multimedia content associated with this release, please click:
http://www.multivu.com/players/English/7170031-microstrategy-mobilize-your-enterprise/
Although the NHS is ranked as one of the institutions that makes people ‘most proud to be British’1, a new poll commissioned by Astellas Pharma Europe Ltd, highlights that 91% of people feel that the health service is in need of change2. In particular, shorter waiting times (36% of respondents) and improved access to medicines (30%) rank most highly as the areas in need of greatest reform.
With only 1 in 4 of respondents agreeing that the Government currently spends enough on health, the survey reveals that those polled would be willing to accept an average charge of £10 for a missed GP appointment in order to improve service levels. The people polled also said they would be willing to pay an average of £170 per year in additional income tax for healthcare funding – which could result in approximately £5 billion in additional tax revenue for the Treasury3. In addition to these charges, 39% of those polled would be willing to accept an additional charge if it meant quicker access to healthcare services and 44% of those polled would be willing to accept additional charges if it meant access to newer and potentially more effective medicines.
To view the multimedia release go to:
http://www.multivu.com/players/uk/7753151-astellas-survey-public-support-nhs-concern/
During the first week in December 1933, the last three of the 36 required states voted to ratify the 21st Amendment to the U.S. Constitution, ending Prohibition and paving the way for the modern three-tier beverage alcohol system. Eighty-one years later, the U.S. beverage alcohol industry offers unparalleled consumer selection, guarantees product safety and integrity and generates billions in tax revenue for federal, state and local governments.
To view the Multimedia News Release, go to: http://www.multivu.com/players/English/7380851-wine-and-spirits-wholesalers-of-america-wswa-21st-amendment/
Eurazeo announces its partnership with Desigual to accompany the growth of the brand. Eurazeo will subscribe to a €285 million capital increase and receive 10% of the share capital of the group owned by its founder, Thomas Meyer. This agreement grants Eurazeo governance and investment protection rights, reflecting the true partnership forged between the parties.
To view Multimedia News Release, go to http://www.multivu.com/mnr/65034-eurazeo-to-partner-with-desigual
The Queen Sirikit National Convention Centre organiser expects its 10th Thailand Travel & Dive Expo together with Golf Expo 2013 will encourage more year-round travel and help to close the revenue gap between peak and low seasons.
Primrose Schools, a national preschool franchise company, is on a positive growth track that now spans six years. In 2016, the company saw year-over-year revenue growth of 13 percent from 2015, strengthening its brand leadership position in the highly competitive early childhood education franchise industry.
Primrose has 342 locations around the country that provide high-quality early education and care to children and families in 27 states. Schools had an average occupancy rate of 87.7 percent, as measured in May 2016. Primrose opened 30 new schools and awarded 46 franchise agreements in 2016, and the company anticipates opening 34 new schools in 2017.
To view the multimedia release go to:
http://www.multivu.com/players/English/7727754-primrose-schools-available-franchise-locations/
Linksys®, a leader in home and business networking solutions and Rivet Networks, makers of the award winning line of high-performance Killer™ Networking products for desktop and notebook PCs, today announced at Gamescom in Cologne, Germany, the upcoming availability of the new Linksys WRT™ gaming edition router – the WRT32X. This first of its kind collaboration, Linksys and Rivet Networks teamed to incorporate the Killer Prioritization Engine (KPE) to provide serious online gamers the only router optimized for high-speed gaming for users with Killer-enabled gaming PCs. The KPE optimizes traffic for low latency and less lag and ensures that the Killer-enabled PC’s gaming, audio, and video is fast and smooth, while simultaneously managing other online traffic in the home to ensure other devices and activities are not compromised. The new firmware and graphical user interface (GUI) was also custom-built from the ground up with a focus on monitoring and controlling gaming network traffic. The Linksys WRT32X is available for pre-order starting today and plans to ship starting in September 2017.
The global gaming market of more than 2.2 billion gamers are expected to generate $109 billion dollars of revenue this year of which 27% is from PC Gamers and 31% from Console Gamers or combined 58% according to the latest Global Gaming Market Report from Newszoo. “Serious gamers are spending money on game play and expect to have technology that provides significant advantages to beat their opponents”, said Vince La Duca, global product manager at Linksys. “The Linksys WRT32X provides advantages that no other routers have – and that is the Killer Prioritization Engine. The router, when paired with a Killer-enabled PC –from makers such as Alienware®, Gigabyte®, MSI® or Razer®, and others provides a powerful end-to-end connection to prioritize gaming traffic to reduce peak ping times up to 77%*, providing a real advantage for faster kills over opponents that use regular “so-called” gaming routers.”
To view the multimedia release go to:
https://www.multivu.com/players/English/7650553-linksys-wrt-32x-gaming-router/
The TAT launches the Thai food festival to promote Thai food and Thailand as one of the world food destination. The objective fo Thai food festival is to encourage tourists to travel and taste the delicious Thai food, which will generate revenue for the locals through tourism
Nearly four out of five small business owners admit that they have not taken full advantage of national and community resources dedicated to helping small businesses develop and grow, according to a survey recently conducted by Fifth Third Bank.
In advance of Small Business Week May 1-7, Fifth Third Bank (NASDAQ: FITB) conducted a national survey of more than 500 small business owners to assess the landscape – and diagnose common pain points – of U.S. small business owners. According to the results, 81 percent of survey participants said they haven’t worked with local small business resources (e.g., chamber of commerce, SCORE, etc.). Forty-one percent were unsure if the United States Small Business Administration (SBA) had resources to help them. Roughly 38 percent of small business owners say they need help growing revenue and increasing profits.
To view the multimedia release go to:
http://www.multivu.com/players/English/7723852-fifth-third-bank-small-business/
