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by TT Press Office

Manx Radios Radio TT has been shortlisted in the nominations for best Sports Story in the Independent Radio News Awards, in association with Sky News HD, for their coverage of the 2011 Isle of Man TT Races. IRN provides a 24-hour service of national and international news to the UKs commercial radio stations, of which there are almost 300 including 15 digital stations. The Award has, in the words of the judges, been created to recognise the way a sports story has been developed, taking into account the target audience and how the team has moved the story on. Manx Radio runs its dedicated Radio TT service throughout practice and race week on the Isle of Man and features live commentary of all of the practices and races as well as a Breakfast chat show and Lunchtime show with respected former TT racer Charlie Williams and live feature programmes throughout the day. The station also provides regular road and weather updates from its temporary studio underneath the main TT Grandstand. The station is up against Real Radio for their Neil Lennon Terror Target story and BRMBs coverage of the Carling Cup Final. Other category nominations include Real Radio, BRMB and Metro FM. The winners will be announced at the Century Club in London on 27th March. Anthony Pugh, MD, Manx Radio, commented: Im really pleased that the work that the station does on Radio TT has been acknowledged by the IRN. It is always good to receive recognition from your peers and we are in illustrious company in the nominations. Geoff Corkish, MBE, MHK, Political Member, Isle of Man Tourism commented: This is great news for everyone involved with Radio TT. It is a tribute to everyone that has worked on the service including all of the support staff that ensures that this high quality broadcasting operation runs smoothly for two weeks. The station is a great service for everyone following the races, not only those on the Isle of Man but also the fans worldwide who listen on-line.

-ENDS-

If you'd like to send any information or news releases to us then please feel free to do so and we would be more than happy to consider sharing your news with the Isle of Man!

Send your Isle of Man news to:webmaster@manx.net

Manx Telecom Ltd 2012

Manx Telecom Ltd, Isle of Man Business Park, Cooil Road, Braddan, Isle of Man IM99 1HX Registered in the Isle of Man Reg no.5629V Vat Reg no GB 003-2919-12

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Manx Radio’s Radio TT Shortlisted for Prestigious Independent Radio News Award

by Stephen Ritch

Two leading figures in the Islands finance sector will be exchanging working lunch reservations for Indian reservations when they trek through the Grand Canyon this May on a challenge to help raise funds for Junior Achievement Isle of Man.

Boston Group CEO Greg Ellison and Deloitte Isle of Man partner-in-charge Sarah Sanders, both Junior Achievement directors, have volunteered to take part in the trip organised by specialist charity challenge event organisers Global Adventure Challenge. Mr Ellison and Ms Sanders, the charitys treasurer, are both meeting all their costs personally to ensure all money raised goes to Junior Achievement to support its work to equip the Islands young people with the essential skills they need when they leave full-time education.

They will be part of a group travelling from the UK to Phoenix where the eight-day challenge includes trekking in the Grand Canyon and descending into the Indian reservation of Havasupai, famed for having the last post office in the US still serviced by mule train.

No stranger to more extreme forms of exercise, having taken part in number of full and half marathons, ex-professional rugby player Mr Ellison is also noted for his fleetness of foot having won the Islands Essentially Dancing competition in 2009 with his memorable samba routine. Ms Sanders, however, although no stranger to the workings of Junior Achievement having taken part in the charitys company programme while a student at Ballakermeen High School, admits to being rather less familiar with the demands of physical exercise, explaining that hitting 40 in 2012 inspired her to rise to the challenge.

Mr Ellison said: It takes a tremendous fundraising effort for Junior Achievement Isle of Man to raise the more than 300,000 thats needed every year to reach in the region of 5000 students. In this the charity shows real innovation, raising money from the Blake concert, The Next Big Thing and the forthcoming Harry Potter-themed two-day event. Against this background Sarah and I decided to roll our sleeves up, get involved and help raise funds for and the profile of Junior Achievement.

Ms Sanders said: Junior Achievement plays a vital role in developing young peoples entrepreneurial skills - more important than ever before, given the current difficult economic climate and contracting jobs market. Its innovative approach also helps raise students levels of ambition and open their eyes to opportunities.

Mr Ellison added: Isle of Man plc needs young people entering the workforce prepared and motivated. Junior Achievements support for students from primary school age through to 18 is an essential supplement to the good work of the schools through the curriculum.

To sponsor Sarah Sanders visit http://www.charitygiving.co.uk/sarahsanders.

To sponsor Greg Ellison visit http://www.charitygiving.co.uk/gregellison.

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Junior Achievement’s Treks Appeal

by Department of Economic Development

THE Isle of Man pensions industry has maintained what it calls a dignified silence on the new QROPS regime due to come into force on 6th April 2012 but has now revealed its approach to the proposals. Shortly after the news broke in early December the Isle of Mans Association of Pension Scheme Providers (APSP) released a short statement in support of the consultation and its intended purpose whilst announcing a determination to work towards a fully compliant solution. Chairman of the APSP Stuart Clifford explains what has been going on behind the scenes since then: We have maintained a dignified silence so far and deliberately so. The overriding reason is that nothing has yet been finalised and we feel we cant progress legislative or procedural changes until such time as we have the final HMRC framework in which to do so. Anything else, we believe, runs the risk of leaving us too exposed. It was a consultation, after all. That doesnt mean weve been idle, though. We have with Isle of Man Government lined up a number of options, depending on what emerges on UK Budget Day, but have taken to keep these in the locker. In the best traditions of the islands freedom to flourish ethos, all parties are poised and ready to swiftly implement whichever planned solution is best suited to the new QROPS regime. Clifford says that this wait-and-see approach is entirely consistent with the spirit of the new rules: What we saw in December was HMRCs clear intention to prevent abuse in the QROPS market and we welcomed it. As a jurisdiction we have never been in the non-compliant category, whether by letter or spirit, nor do we ever intend to be. If anything changes between the draft and final rules we dont want to get inadvertently caught out. Our pensions industry is growing and has many facets to it beyond QROPS, which is evidenced by the calibre of clients which have chosen the Isle of Man for domiciling their pension schemes. We dont want to run the risk of taking a step back by jumping the gun. It may seem overly pragmatic but in the pensions world that is a virtue. John Shimmin MHK, Minister for the Isle of Man Department of Economic Development, says: The Government recognises the importance of the pensions industry and will continue to support the APSP in ensuring that we remain competitive whilst maintaining our excellent reputation. Given the strength and depth of the Isle of Mans pensions propositions, only its Section 50C schemes which were introduced in 2010 are potentially affected by HMRCs proposals. Schemes approved under other Isle of Man tax legislation are unaffected, and will continue to be QROPS compliant post April. -ENDS-

If you'd like to send any information or news releases to us then please feel free to do so and we would be more than happy to consider sharing your news with the Isle of Man!

Send your Isle of Man news to:webmaster@manx.net

Manx Telecom Ltd 2012

Manx Telecom Ltd, Isle of Man Business Park, Cooil Road, Braddan, Isle of Man IM99 1HX Registered in the Isle of Man Reg no.5629V Vat Reg no GB 003-2919-12

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Isle of Man Pragmatic on the New QROPS Regime

by Eric Hollreiser

PokerStars today announced that it has acquired the Douglas Bay Complex in Onchan, Isle of Man which has served as the companys corporate headquarters since 2005.

Isle of Man Chief Minister Hon. Allan Bell, MHK, said, We are pleased that PokerStars has taken this step as it underlines their commitment to maintaining their headquarters here in Isle of Man. PokerStars has been a welcome civic and community leader as well as an important employer.

PokerStars are proud to call Isle of Man our home, said Mark Scheinberg, PokerStars Chairman of the Board. We chose the Isle of Man as our corporate headquarters because it is among an elite group of countries that is at the forefront of e-gaming and provides a strict and rigorous licensing framework for our industry. We feel very much a part of the local community and look forward to strengthening our ties even further.

The Douglas Bay Complex is a well-known landmark in Onchan and it sits on the site of the former Douglas Bay Hotel, which stood for nearly 100 years before a fire ravaged the building in 1988. The hotel served thousands of UK and European vacationers and was the home to the legendary Texas Bar, which featured live music and was the sometime rehearsal and performance space for the Bee Gees. The current office design of 60,000 square feet and 325 car park spaces opened in 2003 with the primary tenant as Royal Skandia Life Assurance company. PokerStars first occupied the building in August 2005 with 4,000 square feet and now occupies 20,000 square feet and employs more than 200 people in the Isle of Man.

-ENDS-

If you'd like to send any information or news releases to us then please feel free to do so and we would be more than happy to consider sharing your news with the Isle of Man!

Send your Isle of Man news to:webmaster@manx.net

Manx Telecom Ltd 2012

Manx Telecom Ltd, Isle of Man Business Park, Cooil Road, Braddan, Isle of Man IM99 1HX Registered in the Isle of Man Reg no.5629V Vat Reg no GB 003-2919-12

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PokerStars Acquires Headquarters Property In Isle of Man

06 March 2012

The South African Revenue Service has disclosed that a protocol to facilitate the exchange of tax information within the existing double taxation agreement (DTA) between South Africa and Austria has recently entered into force, as have tax information exchange agreements (TIEAs) with Bermuda, the Cayman Islands, Guernsey, Jersey and San Marino.

Signed on various dates last year, the TIEAs between South Africa and Bermuda, the Cayman Islands, Guernsey, Jersey and San Marino were effective from February 27, February 23, February 26, February 29, and January 28, 2012, respectively. The amending protocol to the South Africa-Austria DTA (which was originally signed on March 4, 1996, and entered in to force on February 6, 1997) was effective from March 1, 2012.

The new TIEAs and DTA protocol, incorporating the internationally-agreed Organization for Economic Cooperation and Development standard for the exchange of information for tax purposes, will apply to taxes of every kind and description imposed in all of the countries.

They will give the tax authorities of all countries a greater ability to exchange taxpayer information, providing that a tax authority cannot refuse to provide information solely because it does not require the information for its own domestic purposes, or because the information is held by a bank or similar institution.

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South Africa Extends Its TIE Network