Finnies June Update

Since our last blog post, we've been very active in improving our service to clients and have taken part in a number of local events!

In this post, we'll provide a rundown of recent changes and how they will benefit you, along with an update on Finnies' activities.

New app features

As many of you already know, the Finnies TaxApp gives you useful tax rates, dates calculators and tips at your fingertips. It’s available on the Apple AppStore and Google Play Store and is a great way to gain information quickly, when you need it.
Building on the usefulness of the app, you can now access your IRIS Openspace and Xero accounts through their respective icons at the bottom of the app homepage. This means you can access your IRIS documents and view your accounts information through Xero wherever you are!

The changes are currently active on Android devices and are being reviewed by the AppStore. Apple owners should see the changes within the next 14 days.

New website

At the time of writing, the new Finnies website is in its final stages of checking! Our current website will be taken down and replaced with a fresh and modern website that will be simpler to use for current clients and make it easier for those wanting to get in touch for the first time. You’ll be able to access your IRIS OpenSpace through the new-look Finnies homepage, meaning you can access useful information, calculators, the latest news and OpenSpace conveniently all in one place. The new site also features a new ‘Services for Academies’ section with information on how schools and academies can benefit from our services.

We developed the site to include more useful features for clients, be easier to navigate and fit with the modern and forward thinking approach of Finnies.

Sponsorships

Continuing our support of the local area, Finnies will continue to sponsor the Beverley Whitestar Panther U9s, who recently won the Driffield Cup! We are also pleased to say that Finnies has become an official sponsor of local football club Wilberfoss FC.

Finniebahçe

If you follow us on Twitter or Facebook you’ll know that Finnies entered a team (Finniebahçe) into the Echoes Foundation Charity 5-a-side tournament on the 6^th of June. It was a brilliant day of fun, sunshine and football, all raising money for a great charity. The day was made even better as Finniebahçe progressed through a very tough group stage and eventually to the final! Unfortunately this was the end of the road for the team after a painful defeat meant we finished 2^nd overall.

Although disappointing, 2^nd place is a respectable position, especially considering this was Finniebahçe’s first tournament! Our thanks go out to the organisers, the hosts at Soccer Sensations and to our non-Finnies team members Joe and Patrick adding plenty of goals and crucial saves throughout the tournament!

We’re looking forward to the next tournament and hopefully going one step further! We’d love to see some teams from clients or businesses in the area so we’ll keep you up to date with information on the next tournament.

Footgolf

The first team outing of the year saw the Finnies team take to the Footgolf course! The team was split into 3 groups of 4 with trophies going to the winners of each. The course at OneStopGolf in Hull is a favourite for certain team members and proved popular with everyone! Reigning Footgolf champion Anthony missed out on victory by a single shot after crumbling on holes 8 and 9! At the end of the round, winners’ trophies went to Jack, Catherine and Gayle!

Humber Bridge Sportive

On June 14^th team members Anthony and Jack took part in the 61 mile Humber Bridge Sportive finishing in 4:43:40 and 5:08:03 respectively. Conditions were less than ideal with cloud, rain and wind all featuring for long periods of the ride. Despite the weather, the event was a great success raising around £5000 for the Echoes Foundation. A massive thank you to every volunteer that helped throughout the day and especially to the volunteers at the 2^nd food stop in Ulceby! Tuna wraps, flapjacks, jelly babies, bananas and energy drinks gave us a much needed energy boost!                

Moving Forward

Over the coming months, as clients you’ll see Finnies continue to improve your experience. We’re currently working on an exciting new project that will bring further benefits to individuals and businesses that decide to work with us.

We’ll continue to get involved with the community and sporting activities throughout the summer and beyond. There are rumours of another 5-aside tournament for The Echoes Foundation in September, which we’re very keen to be involved in! We’d also love to see teams from you! Clients, local businesses, families, friends; consider the gauntlet officially thrown down!

Our focus is to continually bring the highest possible value to our clients. We have developed our app and radically changed our website to provide a greater service. If you have any feedback on how we can perform better or if there is something you would like to see from Finnies, please do get in touch.

Email: enquiries@finnies.org.uk

Phone: 01482 861919

Finniebahçe - The Players

With less than 3 weeks until the Echoes Foundation charity 5-aside tournament, it's time to introduce the players that Finnies hope can bring back the trophy!

The Players

Auton, N – As a long time season ticket holder at Hull City, Nick has been able to study the delicate playstyle of his beloved City over a number of years. With City currently staring relegation in the face, Auton’s team mates are hoping he doesn’t take too much inspiration from the Tigers of this season and can help Finniebahçe in their push for victory.

Parkin, J (C) – Frequent 5 and 11 aside player and Captain of the side Jonathan Parkin hopes to continue his current run of good form and help achieve Finniebahçe’s title hopes. An extensive and successful career with Wilberfoss FC has given Jonathan a deep knowledge and passion for the game that will be much appreciated by his team mates.  Parkin’s main strengths lie in attack and is likely to play as a striker or offensive midfielder. Not afraid of a challenge, Parkin has a long history of injuries and has even talked of retirement from the game at the end of the season. However a good performance from his team could impact his decision.

Green, A – Office Manager at Finnies and Vice-Captain of Finniebahçe, Anthony’s notable history in a variety of team sports make him an integral part of the squad. Recently retired from a managerial role at Beverley White Star, Green brings a detailed knowledge of the formations and tactics required to win games.  A keen rugby and football player, Green is seen as a player that can fulfil any role on the pitch. However, key strengths of vision, communication and power make Anthony a strong candidate for the holding midfield role; spotting danger, pulling the strings and occasionally unleashing a long range strike.       

Rainbird, T – Current 5-aside player Tom brings a much needed defensive mind to the team. Playing at the back for his current team has given Rainbird experience in the 5 aside game and a good knowledge of his position. Tom may be asked to drift into a slightly more offensive role in some games. The team is confident of a good tournament from the Finnies Account Manager, however when asked about a potential role further up the field, Rainbird warned supporters ‘I can’t shoot for toffee!’

Baldwin, J – Regular 5 and 11 aside player and Marketing Intern at Finnies, Jack is confident of a good team performance. A history of success captaining the Hull University Business School Football team (HUBS) and consistent performances for title winning 5 aside team Hull Tigers mean Jack will always give 100% and aim for 1^st place.

Taylor, O – Trainee Accountant Owen Taylor brings a flexibility and knowledge of the game that could prove crucial for Finniebahçe as they look to rotate team setup on a regular basis. A Hedon Rangers player since the age of 10, Owen has played in almost every position on an 11 aside pitch. Occasionally selected for Hull Representatives, Owen has played against quality opposition including York City and Sheffield Wednesday. Management is hoping Taylor can use this experience and help the team in a number of roles.

Cockerill, C – A recent arrival to Finnies, Callum is set to play a crucial role in the team. The 19 year old joined the company on 5 May and is keen to show his talent to his new team-mates. Despite being a Liverpool fan, the regular Sunday league and 5 aside player has an impressive knowledge of the game.  As a qualified referee, Cockerill provides additional insight which could prove crucial in giving Finniebahçe the edge.

Oldroyd, J – Arriving on a free transfer from The Promotion Company, friend of the firm Joe Oldroyd joins Finniebahçe with fresh legs and fresh enthusiasm. Scouting reports suggest Joe has considerable talent however the somewhat unknown quantity Oldroyd has urged fans ‘don’t be expecting any miracles!’

Overall chances – With a full squad of 8 players, the team has a great mix of attributes and play styles, allowing Finniebahçe to keep opponents guessing. However the squad is lacking a dedicated goalkeeper which could prove critical as Finniebahçe may struggle for stability at the back. The team will have to cover this potential frailty by not overcommitting to attack, leaving the stand in goalkeeper exposed.

Performing well would be wonderful and we’d love to win but the main focus of the event is on the money being raised for the Echoes Foundation. The charity perform great work and it’s wonderful to be able to both enjoy a day of sport and contribute to a brilliant cause. For this reason we encourage anybody reading this to enter a team into the competition! The tournament takes place at Soccer Sensations (Hull) on Saturday 6^th of June and is open to teams of friends, families or businesses! Registration includes a £10 donation for each player and this includes food for teams. The Echoes Foundation really is a wonderful charity and we’d love to see a big turnout.

If you’d like to enter a team or want more information, visit The Echoes Foundation website or go to the Official Facebook event page. You can also email admin@echoesfoundation.org.uk to book your place or call 01482 310410.

 

Finniebahçe’s Tournament Debut – Echoes Foundation Tournament 2015

Some of you may know that 3 members of our subsidiary company Stipendia Payroll Solutions recently completed the Beverley 10km race, raising over £880 for children’s charity Go Kids Go! Support through fundraising was amazing so a big thank you from both Stipendia and Finnies.

Introducing Finniebahçe

Continuing our support of local charities, a team of Finnies footballers have signed up for a charity 5-aside football tournament raising money for Hull charity The Echoes Foundation. The charity works with children & young people from the Humber region with disabilities or additional needs, helping children, families and carers with advice, facilities and guidance. The Echoes Foundation is a brilliant local charity and is the same charity Anthony and Jack will be raising money for at the Humber Bridge sportive in June.

To compete in the charity tournament, Finnies have formed a squad of 8 players with varying experience but a shared objective; to help a great cause and enjoy a good day of football. (Although I’d be lying if I said we don’t care about winning!) After a good long brainstorm, a winning team name was eventually chosen; Finniebahçe.

What do you think about our team name? Do you have any other ideas? Leave a comment or Tweet us @FinniesAccount. We’d love to hear from you!

We're encouraging local businesses and groups of friends to enter a team and challenge us! The tournament takes place on Saturday 6th of June runs from 12pm and 4pm. Keep an eye out for next week's blog which will include an introduction to each Finniebahçe team member!

For information on how to enter, visit http://www.echoesfoundation.org.uk/ or contact the charity (Tel: 01482 310410 – Email: admin@echoesfoundation.org.uk)

Neil Tomlin Is Top Rated In The UK!

We’re proud to announce that ​Neil Tomlin​ has been named as a UK Top Rated Accountant! He​ has received this commendation thanks to the outstanding reviews written by ​his clients​ on VouchedFor.co.uk, the review site for professionals.

Neil was our chosen representative of Finnies on the VouchedFor site. Just one representative had to be chosen and as a company we were extremely pleased to see such positive feedback! Neil’s high standards are a reflection of Finnies as a whole and our message that clients’ needs should always come first.

What does this mean?  Well aside from being a ringing endorsement that ​he is among the most respected in the business,​ Neil ​was featured in a guide to the UK’s Top Rated Professionals which was distributed in The Sunday Telegraph newspaper on the 29th of March.

We had a little chat to the ​man himself​ who was pretty pleased as you can imagine!

Neil ​said: “Being a Top Rated accountant means a great deal – there are thousands of accountants in the UK so to be recognised as one of the most well reviewed is a real achievement.  What makes it even more special is that I’ve been selected as a result of support from my clients.  It means a lot that they’ve gone out of their way to help me to get this award and I’d like to thank them all.”

Choosing a great accountant is vitally important but it can be difficult to know who to trust. Client reviews are a powerful resource when it comes to identifying the right person so we’re delighted that ​Neil​’s reviews are now easy to find on VouchedFor.co.uk.

Neil appeared in the guide in The Sunday Telegraph on March 29th. You can read all Neil’s​ great client reviews on ​his VouchedFor profile here - https://www.vouchedfor.co.uk/accountant/beverley/23562-neil-tomlin

 

What’s happening in the world? – The HSBC Scandal

Recently the bank HSBC have been in the news over alleged allegations of tax evasion. With this being such a controversial topic, we’ve got the latest information for you in this short blog post.

What have HSBC been accused of?

HSBC is back in the spotlight again over allegedly helping clients evade tax and offering deals to help them stay ahead of the law. As a result, thousands of accounts from HSBC’s private bank in Switzerland have been leaked by a whistleblower, containing details of more than 100,000 clients around the world.

The alleged tax dodging partly happened under Lord Green’s tenure as chairman between 2006 and 2010, putting him under pressure the bank’s behaviour. Since this information came to light, Lord Green has been refusing to answer questions by a Panorama journalist after being approached in the street for a programme investigating HSBC.

How are HMRC handling the matter?

First, HMRC has revealed it is looking to expand the scope of its investigation and is meeting with other law enforcement agencies later to discuss the matter, most likely meeting with the Serious Fraud Office. If the SFO and the police launch separate investigations, that would be a serious escalation for HSBC.

Second, HMRC will also look at money laundering in connection with the HSBC data following discussions with the French authorities earlier this week.

Third, HMRC initially believed that up to 150 of the people on the HSBC data list could face criminal prosecutions.

This story is rapidly still unfolding and we’ll have information on this topic as it goes on. If you need any help and or advice regarding tax policies and so on, you can contact the Finnies team on 01482 861919 or email enquires@finnies.org.uk

Record breaking self-assessment tax return year!

January is always a busy period here at Finnies however this year presented a particularly challenging few weeks. HM Revenue & Customs has confirmed that it had received the highest number of self-assessment tax returns ever with 10.24 million submissions making the January 31^st deadline, 210,000 more than last year. In total, 11.13 million returns were due, meaning that 890,000 applications are now overdue and will face a £100 late penalty. There are further late-filing penalties after three, six and 12 months however our client shouldn’t worry about this.

It may not come as a surprise that the busiest days for HMRC were January 30^th and 31^st, when 980,000 returns were received. The busiest hour was between 1pm and 2pm on January 30^th when almost 50,000 returns were received; that’s around 830 per minute! One of the quieter days for tax returns was Christmas day, on which HMRC unwrapped only 1773 submissions.

HMRC's director-general of personal tax Ruth Owen said: "This is another record-breaking year for self-assessment, with 210,000 more people filing their returns on time than last year.”

If Finnies have helped you complete your tax return on time, we’d love to hear your feedback. Why not leave a review on our Facebook page: https://www.facebook.com/FinniesAccountantsLimited  or recommend/endorse your Finnies team member on LinkedIn?

January proved to be a successful period for the Finnies team as all relevant returns were submitted before the January 31^st deadline. If you’re looking for assistance on your tax return contact us on 01482 861919 or email at enquiries@finnies.org.uk.

 

 

Big Problems for Greece? Syriza and the Global Market Turmoil

In a dramatic turn of events, radical left-wing party Syriza stormed into victory in the Greek elections on Sunday night, intensifying fears that the financially ruined country could default on its debts and be forced to abandon the euro. The historic triumph is likely to trigger serious fears about the future of the European Union after Syriza swept to power to become Europe’s first anti-austerity party, almost certainly putting Greece on a collision course with international creditors. We’ve got the latest information for you in this blog post, so keep on reading!

Who is the party leader?

The leader of the Syriza party is Alexis Tsipras, who is now the country’s youngest prime minister in 150 years, after taking 36% of the vote compared with 28% for the conservative New Democracy party of incumbent Prime Minister Antonis Samaras.

What immediate effects did the cause?

The results immediately hit the euro with the single currency falling to a fresh 11-year low of $1.1098, having already taken a hammering last week after the European Central Bank announced a bigger-than-expected €1.1 trillion stimulus programme. It has since clawed back some of the losses, currently trading at around $1.1233 at around 8am in London.

One immediate cause for concern was Syriza’s announcement of the party wanting to renegotiate the terms of Greece’s €240bn bailout deal with the EU and International Monetary Fund five years ago, which failed to win a majority. While Greek debt, at 175% of gross domestic product (GDP), remains at unsustainable levels, any debt relief will be met with fierce opposition from northern states, including Germany and Finland.

What is the chance of a ‘Grexit’?

It all looks like quite an impasse and Greece's future in the euro is not guaranteed, even though German Chancellor Angela Merkel has said she wants the country to remain "part of our story".

What would happen if Greece left the Euro?

The Greek Economy – The first place to feel the full force of a Greek exit from the euro is the country itself. Greece's banks would face collapse as the value of the re-introduced drachma will plunge and Greeks rapidly withdraw their savings.

Currency – If Greece does exit the euro, a new drachma currency will have to be formed by the new government. The new administration would have to produce enough new notes to replace those currently in use in Greece. It is likely the government would impose some form of capital control in the early days of launching a new drachma, limiting the amount people can withdraw to avoid a massive run on banks.

Public Finances – The borrowing costs for governments across the eurozone are likely to soar if Greece exits the euro. This is because the move will set a precedent that such an exit is actually possible and will therefore rattle investors' confidence in other eurozone countries.

Politics and Society – Riots have frequently hit the streets of Athens in the past few years as anger over strict austerity measures demanded for the country escalates. The economic turmoil faced by the country - if it remains in the single currency or not - is likely to provoke further protests in the months or years ahead.

Exports and Tourism – As the euro and the new drachma would likely devalue rapidly, one benefit from such an event would be the positive effect on both eurozone and Greek exports and tourism. The weak value of the euro and drachma would make both more appealing to the rest of the world, boosting trade and attracting more holidaymakers.

There you have it! We’ll be closely monitoring this new topic and would be interested to know what your thoughts are. Do you think the ‘Grexit’ is inevitable and to happen soon? We’ll keep you up to date with posts as this develops.