H.D. Keane Autumn 2017

AUTUMN

2017 RECENT DEVELOPMENTS COMPARING BUY TO LET AND REAL ESTATE INVESTMENT TRUSTS (REITs) 7 TRAITS OF EXCEPTIONAL COACHES HAPPY BUT EXHAUSTED: 4 TIPS FOR REVERSING WORKER BURNOUT HUMAN RESOURCES GUIDE FOR SMALL AND MEDIUM ENTERPRISES 8 APPS TO HELP YOU BUDGET AND SAVE YOU MONEY

TABLE OF CONTENTS Recent Developments Comparing Buy To Let And Real Estate Investment Trusts (REITs) Legal Briefs 7 Traits of Exceptional Coaches Happy But Exhausted: 4 Tips For Reversing Worker Burnout Human Resources Guide For Small and Medium Enterprises Business Briefs 8 Apps to Help You Budget and Save You Money Meet The Team Range of Services

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Welcome to the Autumn edition of our bi-monthly newsletter.

We hope you find the articles in this newsletter of interest to you and your business.

We welcome feedback, suggestions and input from our clients and if there are any particular legal matters which interest you, please let us know and we will try to provide information on any such areas of law.

We have a highly experienced team here at H.D. Keane who are happy to assist you with any queries you may have, so please do not hesitate to contact us.

All the team at HD Keane Solicitors.

Recent Developments CHANGES IN FAMILY LAW

Over the last number of years, many changes have taken place in Family Law. As a result of the recent referendum the Child and Family Relationships Act 2015 has taken effect and has created a number of changes, with particular focus on the voice of a child.

Family Law in our Jurisdiction still requires much needed progress and specialised legal advice, in particular with mediation and Alternative Dispute Resolution. Our Jurisdiction urgently requires the following: •

The Creation of Specialist Family Courts and Judges;

•

Public awareness about Mediation and Alternative Dispute Resolution;

•

Client focus, with the appropriate legal advice, can resolve acrimonious issues.

If you, a friend or relative require Specialised Family Law advice please contact: 051 874856

enquiries@hdkeane.com

The Revenue Commissioners revised clearance guidelines for Local Property Tax have come into effect from the 1st of September, 2017.

In summary, the main revisions to the clearance guidelines include:

LPT REVISED CLEARANCE GUIDELINES

General clearance condition 1 has been changed to reflect an increased limit from €300,000 to €350,000 i.e. where a property is sold for a price that does not exceed €350,000 general clearance will apply.

General clearance condition 2 – allowable valuation margin. The condition in this section relates to the allowable margin by which the sales price of a property exceeds the valuation band/chargeable value that was declared for the property in relation to the 1 May 2013 valuation date. The allowable margins have been changed from 50% to 80% in Dublin city and county and from 25% to 50% for all other property.

General clearance condition 3 – expenditure on enhancements to a property. Where the sale price exceeds the valuation band/ chargeable value declared, that any such excess must be within the specified margins set out in general clearance condition 2, adjusted by the amount of any verifiable expenditure on refurbishment or improvement incurred since 1 May 2013. The specified margin set out in general clearance condition 2 is now 80% in the case of properties with a chargeable value exceeding €350,000 situated in Dublin city and county and 50% for all other properties.

Clients need to be aware that as of this date the new clearance applies. Should you require specific information in this regard you should contact us on: 051 874856

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enquiries@hdkeane.com

COMPARING BUY-TO-LET AND REAL ESTATE INVESTMENT TRUSTS (REITs)

Private investors typically live in the property they invest in, which makes it easier to come to grips with investment. This type of investment is quite homogeneous compared to Real Estate Investment Trusts (REITs) and listed property companies.

However, a novice may easily overlook certain important aspects of buy-to-let, such as the cumulative annual expenses, which can substantially dilute the gross rental yield from the investment.

The apartment will have to be repainted once every 3-4 years, and white goods will have to be repaired or renewed as needed. €700 a year should cover that. Property tax is another expense, calculated at €1,100 per year, which takes the expenses up to €7,660 and your net pre-tax annual income yield down to 2.72% a year.

A Dublin apartment in a good area may cost €600,000, and you can fetch a monthly rent of €2,000 on that, which equates to €24,000 per year. That will give you a 4% gross annual yield, which is in line with the dividend yield of several Real Estate Investment Trusts (REITs). However, unlike buy-to-let property, the earning yields obtainable from a stock market-listed REIT are after all expenses, which include depreciation of operating assets, management and corporation tax.

Then again, the risk on a single property with a single tenant is considerably greater than that of a real-estate investment trust with a proven track record.

Some buy-to-let investors have been lucky with a reliable rental flow from a single tenant or even a handful of tenants. However, a fair amount of disputes and tenancy problems tend to swamp the Property Residential Tenancy Board every week, including issues with rental payments, but also many other issues that are costing landlords a lot of money. If you work through a reliable, stock market listed real estate investment trust, you don’t have to deal with that.

On a direct property investment, the gross yield is calculated before overheads, depreciation (wear and tear) and expenses, as well as the charge on apartments, which is €2,500 per year, including the €500 for the sinking fund (which pays for repainting, upgrading, renewal and repairs to common parts), as well as letting agents’ fees, which is typically a month’s rent plus VAT. Investors should allow for a one-month rental void once every two years, which is €1,000 per annum, but a tenant changeover may take more than a month, depending on the time required for renewal and re-decoration.

When it comes to choosing between buying into a quoted PLC and a direct property investment, you should consider three other key issues: 4

LIQUIDITY When you invest in a large stock market quoted company, you will typically have an easily saleable, liquid investment. You will be able to get in and out of the investment when you wish by selling your shares, only paying a low transaction cost.

Liquidity is not always guaranteed, but if you chose a large REIT trust, the chances of your shares becoming illiquid are substantially lower than with a single residential property.

MANAGEMENT Management experience and quality are pivotal to the success of your investment. It is important to choose a high-calibre, seasoned team to manage your investment property. Choose a company that has been through several market cycles and has a proven portfolio and tenant management and repositioning capacity. The team should be able to recognise emerging trends as the economy and lifestyle preferences evolve. This type of property investment is ideal for your first exposure. The discounts offer significant future growth potential for shares from a diversified and modern portfolio in prime locations and completed to high quality design specifications and standards.

Tenant problems will be dealt with by the management team at a fee which is more than compensated for by the discount in the share price. Some investors have seen single-digit capital share appreciation in shares in six months, which is predictable.

Dividends should continue to flow for those who stick with a trustworthy company for the long haul.

EXPOSURE

You might opt to avoid unit trusts when it comes to investing in property. Sales and management fees are sizable, whereas companies with seasoned management and rich heritages have high governance standards, share price discounts and proven track records.

Since a REIT investment provides much greater diversity, risk concentration is reduced, as your exposure is spread across a wide portfolio of properties that are differentiated by specification, category (office, retail or industrial), region, and activity (investment, development or trading).

At the end of the day, it is your choice whether you want to opt for a piece of property you can admire, or a yellow share certificate filed away in your office.

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LEGAL BRIEFS

NEW EU RULE WILL BAN CHARGES FOR USING CREDIT CARD

Diners Club and American Express cards. If a merchant imposes surcharges on those cards, the surcharge must not exceed the direct costs borne by the merchant to accept the card. The department added that this country opted to reduce some of the charges that processors of card payments can impose, in a move that made it cheaper for retailers to accept electronic payments.

Known as interchange rates, Ireland now has some of the lowest rates of interchange fees on debit cards in the EU, the spokeswoman said. Dermott Jewell, of the Consumers’ Association, said the move to ban surcharges was long overdue. He said the Government had promised in the past to get rid of the charges, but deadlines for their abolition had been constantly missed. He said charging customers for using credit cards is discriminatory and anticonsumer. Mr Jewell said when consumers pay by card the companies save on cash handling, security provision, human resources and insurance costs. Consumer groups said the change in the law is likely to mean some companies will simply put up their prices, to make up for the loss of charges they impose on card payments.

Consumers will no longer have to pay surcharges for using credit cards from the start of next year. New European Union rules will ban the charge that can add 2% to the cost of goods or services. The worst offenders currently are airlines and ticket sellers, and small businesses which typically add a fee for cards. But the revised EU Payment Services Directive will ban surcharging on all payment cards covered by the EU Interchange Fee Regulation. It comes into force on January 13th, according to a spokeswoman for the Department of Finance. This means a merchant will no longer be able to charge extra for accepting a consumer card covered by that regulation.

This will ban surcharges on Visa and Mastercard credit card payments. The spokeswoman said this would lead to the end of surcharging on the vast majority of consumer cards.

However, some cards not covered by EU rules will still be able to impose surcharges. These are understood to include

LAW ON MINIMUM ALCOHOL PRICING MAY PASS IN NEXT SESSION

As well as minimum unit pricing, the Bill includes provisions to regulate advertising and sponsorship of alcohol, to provide health labelling on products and to ensure structural separation of alcohol in shops.

The Minister said he had taken on board concerns raised in the Seanad that the requirements would place an undue financial burden on small business owners and he would reflect that in amendments to the legislation in October.

Legislation to introduce minimum pricing for alcohol could pass all stages of both Houses of the Oireachtas in the coming session, Minister for Health Simon Harris has said. Speaking in Dublin at the launch of Recovery Month, an initiative being championed by the Rutland Centre for addiction treatment, Mr Harris called on all political parties and Independents to “step up to the plate” and support the Public Health (Alcohol) Bill.

MINISTER KEEN TO REVIEW CONTEMPT LAWS IN RELATION TO SOCIAL MEDIA

Speaking at the launch of the annual Courts Service Report, Ms Justice Denham said there are genuine concerns over the dissemination of false claims. She said there are several areas that need to be addressed to protect the right to a fair trial in this era of social media.

Draft guidelines, she said, are needed to decide who can and cannot use social media in a courtroom. Mr Flanagan said there are many challenges in the area of law reform and it is essential that the law is fully up to date.

The Minister For Justice has said he is keen to have a review of Irish contempt laws in relation to social media. Charlie Flanagan’s comments come after the Chief Justice said the use of social media in the courtroom must be addressed.

Ms Justice Susan Denham has written to the President of each court this week with a draft discussion paper on guidelines.

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The average number of professional judges in European countries was 700% of the Irish figure per capita. Mr Justice Humphreys said the “inadequate” number of judges had to be put in the context of a significantly increased workload of litigation. He said the number of legal actions commenced in the High Court had doubled since 1999-2000. Those that are losing out from the lack of an adequate number of judges are the parties to litigation and in that regard the State is the biggest loser of all as a result of the inadequate number of judges, he said.

Taoiseach Leo Varadkar said last month that the Government was “absolutely committed” to the Judicial Appointments Bill. The controversial legislation aims to replace the Judicial Appointments Advisory Board with a lay commission of 13 members, with a lay majority and a lay chairperson, which Fianna Fáil objects to.

Fine Gael had the support of Sinn Féin and Solidarity People Before Profit to pass the second stage vote in the Dáil by 83 votes to 53 in July. Minister for Transport Shane Ross, the legislation’s champion and chief supporter, had expected it to be passed before the summer, but it is now expected to proceed to its next stage in the autumn.

HIGH COURT JUDGE CALLS ON OIREACHTAS TO LEGISLATE FOR MORE JUDGES A High Court judge has called on the Oireachtas to legislate for the appointment of more judges because the State is “rock bottom” in Europe for the number per head of population. Mr Justice Richard Humphreys, said this was the “single biggest thing” the legislature could do to improve the quality of justice in Ireland. He commented that Ireland holds an “exceptionally weak” position in terms of number of judges per capita and that this had gone under the radar with the public.

The Judge said a court hearing within a reasonable time was possible only if there were enough judges relative to the amount of litigation being undertaken. He outlined the provisions of article 26 of the Constitution, which provides that the number of judges is set by the Oireachtas. There were at present 163 judges to cover a population of 4.8 million people, or only 34 judges per million people, he added.

NEW LEGISLATION SLOWS DOWN MARRIAGES OF CONVENIENCE

having previously been lawfully resident in a member state.The judgement did not apply to a non-EU spouse married to an Irish citizen.

Mr Feely said that non-EU nationals marrying Irish nationals are not entitled to EU Treaty rights in Ireland, therefore there is much less of an incentive to marry an Irish citizen. He further commented that the number of notices of intention to marry involving non-Irish EU and non-EU couples had grown “fairly dramatically” in recent years. They rose from 883 in 2012 to 1,584 in 2015 — an 80% increase. Mr Feely believed that the legislation, Civil Registration (Amendment) Act 2014, which came into effect in January 2016 allows for a marriage that is determined to be a marriage of convenience to be declared invalid. It permits a registrar to consider certain matters where a notice of intention to marry is received from a foreigner. In suspicious cases, the registrar is obliged to make a report to a Superintendent Registrar who decides the matter as well as providing a copy of all records and information to the Minister For Justice. The decision of the superintendent registrar can be appealed to the Circuit Court. Mr Feely said the success of the legislation has also been assisted significantly by co-operation between the Department of Justice and the Garda National Immigration Bureau.

A sharp reduction in the number of marriages in Ireland last year between EU citizens from outside Ireland and a non-EU citizen is being attributed to the introduction of legislation designed to crack down on marriages of convenience. Figures published by the General Register Office show 426 couples involving two foreigners with one partner from outside the EU were married in the Republic in 2016. It compares to 860 in 2015 and 1,163 in 2014.

The figures reveal that 41% of such couples who notified the Irish authorities of their intention to marry last year did not proceed with their wedding. Only about 20% of couples in that category failed to go ahead with a marriage ceremony between 2012 and 2014. There has been a significant reduction in the number of citizens from Pakistan involved in such marriages — down from around 400 in 2014 and 2015 to 58 last year.

The Registrar General Kieran Feely said the problem of marriages of convenience, as a means of circumventing immigration controls, became more acute following a ruling by the European Court of Justice in the Matock case in 2008. It allowed the non-EU spouse of an EU citizen to move and reside with their partner within the EU without

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COACHES Many leaders overestimate their own coaching abilities, however, the true measurement of skill does not lie in their belief, but rather in the results they achieve and the perception of the recipients of the coaching.

A recent study examined the data of a survey in which 3,761 leaders had to rate their own coaching skills, and the assessments of others. The data of those who overrated their skills was compared to the results of those who underrated their skills. The findings were interesting.

25% of leaders overrated their skills, placing themselves as superior to other coaches. The coaches who underrated their skills, were found to possess above average coaching skills.

Based on the assessment, if you think that you’re an above average coach, but you’re not really, the results indicate that you might be much worse than you imagined.

Here are the 7 key traits shared by individuals who over-estimated their own abilities: (1) Uncollaborative (2) Fail To Give Feedback (3) Poor Role Models (4) Don’t Develop Others (5) Poor Listener (6) Fail to Encourage Diversity (7) Lack Integrity.

Therefore, to be an effective coach you must possess the following traits:

1. COLLABORATIVE

5. ACTIVE LISTENER

Ineffective coaches tend to be competitive, which is an unhealthy trait. An effective coach would rather find opportunities for collaboration and cooperation.

Good listeners rely on the perceptions of other people. They listen to understand, without judgment. They want to hear the thoughts and feelings that are of concern to other people.

2. GIVES FEEDBACK

6. ENCOURAGES DIVERSITY

A good coach understands that constructive criticism and honest, clear feedback with actionable steps can help people develop and improve their performance.

Exceptional coaches value the diversity that comes from different race, gender, and age. This attitude is internally motivated, rather than dictated by organisational rules and laws. These coaches truly appreciate and value the advantages of diversity.

3. GOOD ROLE MODEL

7. POSSESS INTEGRITY

Effective coaches create open, trusting environments where others can have positive and meaningful interactions.

Great coaches honour their commitments and keep their promises because they want to do the right thing.

They understand the importance of trust and give credit where it is due. They actively seek out opportunities to praise and recognise others, making them exceptional role models.

The seven traits of effective coaches are valuable to a leader in any organisation. Of course, training is also valuable, but it’s not the be-all and end-all of your coaching career. Strive for never-ending improvement.

4. SEEK TO DEVELOP OTHERS Exceptional coaches understand the importance of developing others for the future by developing new skills. They invest the time and effort it takes to be fantastic at coaching.

Don’t be afraid to assess your coaching skills, and encourage your team to assess it too. The key to constantly evolving skills, lies in identifying blind spots and building on those. Good skills are a great start, but a good coach will always develop them further.

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HAPPY BUT EXHAUSTED:

According to a recent survey of American office workers, they are mostly happy, but also tired.

It sounds like an oxymoron. Is it even possible to feel such conflict, and how can it be resolved?

The answer probably lies in the fact that most people enjoy their work, and appreciate the opportunity to use their strengths.

However, in many workplaces, it is difficult for people to maintain a healthy work/life balance, avoid stress, and in many cases say ‘no’ when their workload is too heavy. Unless people find a solution to this challenge, they may develop fatigue and other issues.

REVERSING WORKER BURNOUT for

Employers can use the four tips below to devise solutions to employees spending too much time working.

1

MANAGE EXCESSIVE DEMANDS ON TIME

Assess the time workers spend on completing their tasks, and discourage them from feeling compelled to remain plugged in 24/7. Workers will be more effective and productive if they have time to recharge away from office pressures. Encourage sufficient overlapping of responsibilities and teamwork to enable someone to handle gaps and emergencies without pressuring everyone to constantly be available.

2

ENCOURAGE AUTONOMY AND FLEXIBILITY

Many surveys on remote working and flexi hours have illustrated the benefits of allowing workers to choose their workplaces and work hours. Telecommuting workers, for example, have the advantage of adjusting their time and workplace in order to avoid conflicts with family life and other responsibilities.

By providing this option, within reason, of course, you show a willingness for constructing their working arrangements around their family and other non-work demands, which fosters appreciation and loyalty. In turn, you create happy, relaxed and productive employees.

3

DON’T WASTE EMPLOYEES’ TIME

Research shows that meetings are one of the leading causes of time wasted at work. Ensure that all meetings have thoughtout agendas, and that they end with clear action steps. If you have to have meetings, consider doing so electronically to reduce wasted time and travel. Also work actively to reduce email overload.

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PROVIDE OPPORTUNITIES TO RECHARGE

Encourage employees to take a break throughout the day. Major tech companies provide amenities which allow employees to take a time out, whether it is a nap, a round of table tennis, or just a place to get out of the office for a moment. A break provides a good opportunity to enhance creativity and increase physical energy.

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HUMAN RESOURCES GUIDE FOR SMALL AND MEDIUM ENTERPRISES Tired of spending countless hours interviewing people who are completely unsuitable for your company? Even worse - are you unable to find people to interview?

You’re not alone. Many employers - big or small, experienced or not face these very issues.

However, as an SME, the stakes are significantly higher for you.

Your company’s development hinges on hiring the right employee at just the right time. But if you get it wrong, you waste a lot of time and money; two things that no business owner can afford. The wrong hire can cause productivity and staff morale to plummet, which can be disastrous in a small team.

1. TAKE YOUR TIME

Sometimes, small and medium enterprises have difficulty attracting the right candidates as they are competing against well-known companies. Large companies have in-house human resources teams and a budget to attract the right talent. Therefore, it can be difficult to attract dedicated, passionate employees who are willing to truly understand your business and industry.

Most often, when SMEs need to hire, it has to happen in a rush.

The pressures of a rapidly growing business intensifies the recruitment drive. Instead of reacting to your need for more hands on deck, take a proactive approach whereby you can estimate well in advance the roles that will expand and carefully consider the type of talent you desire. Estimating well ahead of time when you expect to require more manpower and how you see them contributing to the business model will enable you to find the best candidates for the roles.

All is not lost to small business owners looking to hire a couple of key talents. Here are some suggestions on how you can find the right employees.

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2. ATTITUDE OVER SKILL

4. WORD OF MOUTH

While a suitably qualified candidate will have the right skills and experience right off the bat, it is important to also consider attitude. A small team in a fledgling business relies on the attitude of each member to contribute and directly influence the team’s productivity.

When you’re looking for new staff, be sure to leverage your network. Let your business acquaintances know that you’re looking to hire and be sure that they know what you require in your new recruit. Industry networking events also provide a great opportunity for finding potential employees and to ascertain whether they are a good fit for your company.

Someone who is willing to work hard and take on responsibility may be a better fit than a qualified person who lacks team spirit.

While someone can learn the skills of the job, attitude can’t be taught.

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INCENTIVES

3. EXPLAIN THE ROLE

While larger companies have the means to offer larger salaries, your SME can offer incentives to try attract suitable candidates. Several recent surveys have shown that individuals prefer companies that offer better work-life balance over large salaries. Consider how you can provide that in the form of:

Instead of sugarcoating the role to prospective candidates, be candid about what they can expect and be honest about what it is like to work at the company. Employees can learn new skills much faster in an SME than in a large organisation.

• • • •

During your interview, explain frankly what the individual can expect when working at your company. By having this conversation at the start of the interview process, you will both be on the same page when you make your final offer.

an uplifting work environment clear goals flexible hours remote working

As a small business, you can easily tailor incentive packages that suit the individual needs of your staff members.

Training and development opportunities can further help you to bring the best out in your employees. By offering continuous training, you can retain the star performers you worked so hard to attract.

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diseases; and I- FORM will enhance processing efficiency for Irish manufacturing, allowing the production of highly customised 3D printed components. The four SFI research centres will engage in more than 80 collaborations with industry partners both at home and abroad. Announcing the new centres, Taoiseach Leo Varadkar said the investment would help create jobs and drive economic growth and the SFI research centres represent a shared vision and collaboration between government, industry and higher education.

Director General of SFI and the Government’s Chief Scientific Adviser, Prof Mark Ferguson, said last year Ireland was ranked 10th for the overall quality of scientific research carried out here and that research centres had been central to this success. He commented that research and innovation matter for our future - in enhancing productivity, boosting competitiveness and tackling modern societal challenges together with ‘building a digitally-smart, low carbon, energy efficient, circular economy that offers well-paid, rewarding work and brings a good quality of life for all’.

FOUR NEW WORLD-CLASS RESEARCH CENTRES OPENED Four new world-class research centres are to be opened in Ireland as part of a multi-million Euro investment.

The Science Foundation Ireland (SFI) centres, which will be focused on the areas of smart manufacturing, neurotherapeutics, bioeconomy, and 3D printing, will receive €74m in government funding and €40m from their respective industries over the next six years. In total, the four centres will directly support some 650 highly skilled researchers. The investment will support cuttingedge basic and applied research, with strong industry engagement, driving economic benefits and positive societal impact.

The four research centres will focus on the following: CONFIRM aims to transform Ireland’s manufacturing industry to become a world-leader in smart manufacturing; BEACON will develop alternative technologies based on renewable biological resources; FutureNeuro is looking for treatments for chronic and rare neurological

IRISH MANUFACTURING INDUSTRY HITS A 2 YEAR HIGH IN AUGUST

Business surveys have been similarly supportive and the Investec Purchasing Managers’ index rose to 56.1 in August from 54.6 a month earlier, reaching the highest level since July 2015, well above the 50 mark separating growth from contraction.

While Ireland is particularly vulnerable to Brexit due to its close trading links with Britain, manufacturers are proving increasingly resilient to any early impact with the subindex measuring new export orders rising to 55.6 from 54.6 in July.

Export orders contracted for the first time in three years ahead of last year’s Brexit referendum but the sector has recovered and grown strongly all year.

A recent survey has revealed that, Irish manufacturing sector growth hit a two-year high in August as firms’ expansion into more markets and securing of new business added to signs that the booming economy is showing few signs of slowing down.

Ireland has had the best performing economy in the European Union since 2014 and economists say continued jobs, wage and consumption growth back up Government forecasts for a further 4.3% expansion in Gross Domestic Product this year.

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FOUR-FIFTHS OF MILLENNIALS WOULD MOVE ABROAD TO BOOST JOB PROSPECTS

Only 16% of millennials surveyed across 186 countries said they are willing to sacrifice career and salary to enjoy life. Similar results were found in an Irish-specific survey recently carried out by LinkedIn, with 6 out of 10 people saying they were interested in changing jobs, primarily because of pay. Providing their views on technology, almost 8 in 10 young people surveyed by the WEF believe technology will create jobs rather than destroy them.

When asked to name the next big technology trend, 28% of survey respondents said that artificial intelligence will make the most significant impact, while education is seen as the sector that is most likely to benefit from the adoption of new technologies. However, despite positive views on technology, only 3.1% strongly agreed that they would trust robots to make decisions on their behalf.

More than 80% of young people globally would move overseas to advance their careers - with the US, Canada, the UK, Germany and Australia the most desirable countries to move to for job opportunities. The Global Shapers Annual Survey of 25,000 people under the age of 35, carried out by the World Economic Forum, also found that salary came top as the most important criteria when considering job opportunities, followed by a sense of purpose and career advancement.

WEST CORK-BASED GLOBAL SHARES IS TO CREATE 80 NEW JOBS

During this time the company has signed contracts with 6 FTSE 100 companies and the company’s client listing includes GSK, Skanska, Sage, Irish Life, Legal & General, Generali and others. The latest recruitment drive will grow the Global Shares team to a total of 228 staff members across the company’s 10 offices in Clonakilty, Cork City, Dublin, London, Edinburgh, Portugal, Germany, New Jersey, California and Hong Kong. Tim Houstoun, CEO of Global Shares, hailed the jobs announcement as significant in that the company exceeded their 3 year expansion target which was set in 2015. Some of the new positions are supported by the Department of Jobs, Enterprise and Innovation through Enterprise Ireland, and Martin Corkery, regional director, South and South East, Enterprise Ireland described Global Shares as ‘‘a great example of an Irish Fintech business with global ambition’’.

West Cork-based Global Shares is to create 80 new jobs, bringing its total global employee base to 228. The roles are across a number of areas of the business including IT, finance, multi-lingual share plan analysts, and trading and legal. The company, which provides share plan administration software, share-dealing, global custody and financial reporting tools, said that recruitment will begin immediately, with all roles to be filled over the next two years. The majority of the roles will be based in Ireland, primarily at the Global Shares headquarters in Clonakilty Co Cork.

Founded in 2005, Global Shares has in the past two years seen its client base grow from 150 to 250 clients based in 25 countries, with participants in over 100 countries globally.

CONSUMER SPEND IN RESTAURANTS AND BARS INCREASES 9.1%

Andrew Harker, a senior economist at IHS Markit, said that face to face spending has moved closer to stabilisation highlighting that hopefully the high street can start to contribute to growth again in the near future.

E- commerce spending rose for the third month in a row, with expenditure rising by 8.9% compared to the same month last year. According to Visa, “this trend underlines the growth in popularity of online shopping among Irish shoppers”.

Research released recently by the European Commission showed that the strongest growth in the number of online shoppers across the EU last year was in Ireland. At least 59% of the Irish population made an online purchase in 2016. One sector which saw a spending reduction was health and education, where spending dropped 2.8% .

However, this is believed to be a seasonal decline. Mr Harker commented that that Visa Irish Consumer Spending Index demonstrates further evidence of ‘building growth momentum in household spending following a soft-patch earlier in 2017’ with encouraging signs from categories that had been struggling previously.

Consumer confidence is increasing again and this results in increased consumer spending, according to Philip Koponik.

Hotels, restaurants and bars have posted the fastest increase in consumer spending, seeing growth of 9.1% year-on-year. Philip Konopik, Visa Ireland country manager, said the growth was down to increased spending on the “experience economy rather than on things”.

According to Visa’s Irish Consumer Spending Index, while spending remains modest, the rate of expansion has accelerated over three consecutive months. Face-to-face expenditure during the same period continued to drop, however, the pace of the fall is the slowest so far this year at -0.5%. Mr Konopik noted that this was a reflection of consumer behaviour, as a result of there being more options available, consumers are changing their habits.

He commented that there is huge diversity across Europe of how people choose to pay for goods. For example, UK consumers would spend more on eCommerce as a result of the better availability of services like online grocery shopping.

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8

APPS

to Help

You Budget AND AND

SAVE YOU MONEY VoucherCloud

Price Spy

Using geo-location software, you can access codes for discounts on multiple websites, shops and restaurants.

Compares prices online and instore. You can scan the barcode of a product and it will tell you where to find the best value and if the product can be found cheaper elsewhere. Alerts can be set up when the price of a selected product falls below a certain level.

Rev App

What’s App

This app is designed by the office of the Revenue Commissioners that makes paying your taxes a lot less cumbersome. It has a receipts tracker and also allows PAYE taxpayers claim rebates on health and tuition expenses. There are also calculators to help calculate property tax, PAYE and VRT.

You can send texts, pics and videos for free. There is also the option to set up group messaging.

Here We Go

Spending Tracker

A very useful app that can be used either in Ireland or abroad. You can download maps of your location and save them offline so you do not need to rely on a Internet connection. At home it can be used to plan trips and when connected to the Internet gives real time traffic updates.

When you spend money or get paid you enter the amount under different categories. It allows you to see what areas you spend the most and where you can cut back.

Expensify

TransferWise

Expensify streamlines the expense logging process and comes with manual and automatic features allowing users to manually enter and track expenses such as mileage and time/rate based expenses. You can also use the “Smart Scan” feature whereby users can take a pic of the receipt which your phone reads to automatically generate an expense log. There is also a currency converter and you can important purchase information on your credit card.

TransferWise routes payments not by transferring the sender’s money directly to the recipient, but by redirecting them to the recipient of an equivalent transfer going in the opposite direction.

Likewise, the recipient of the transfer receives a payment not from the sender initiating the transfer, but from the sender of the equivalent transfer. This process avoids currency conversion and transfers crossing borders.

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John Breen BCL PARTNER John Breen was awarded an Honours Degree at University College Cork in 1994. John resides locally with his wife and two children. He trained with H.D. Keane Solicitors and joined the firm as qualified solicitor in 1998. He became a Partner in 2003 and Managing Partner for the firm in 2012. He practices in most areas of law with particular emphasises on Personal Injury Claims, Commercial Conveyancing and Employment Law. Contact John

john.breen@hdkeane.com

051 874856

PARTNER

Nicholas Walsh qualified as a solicitor in 2005 having completed his studies at the College of Law, Chester and trained in the UK. He joined the practice in 2005 and became a partner in 2012. He deals mainly in the area of commercial/banking/agricultural conveyancing, and family law. He completed a post graduate Diploma in Family Law in 2008. He is a former president of Waterford Law Society and resides locally with his wife and four children.

Contact Nicholas

051 874856

Nicola Walsh BA SOLICITOR Nicola Walsh qualified as a Solicitor in 2011 having completed a Bachelor of Arts Honours Degree in Legal and Business Studies. Nicola specialises in general conveyancing, wills, probate and the administration of estates, estate planning and litigation.

Contact Nicola

nicola.walsh@hdkeane.com

051 874856

Frank W. Hutchinson SOLICITOR CONSULTANT Contact Frank

051 874856

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HD Keane & Co is the old name of the firm change to HD Keane Solicitors.

We believe in streamlined and easy to understand communication with you, the client, from start to finish in the legal process.

SINGLE POINT OF CONTACT Regardless of the profile of your case, HD Keane Solicitors will appoint a single point of contact to guide you through the whole process.

SPECIALISTS Our highly qualified team of solicitors provide specialist services in all areas of legal compensation claims, from personal injury to employment compensation claims.

TRADITION

Frank Hutchinson was a Partner for the firm for 25 years. Frank qualified as a solicitor in 1985. He is a Consultant with the Practice and specialises in Wills, Probate and Administration of Estates and Conveyancing. He is the State Solicitor of Waterford.

Frank.hutchinson@hdkeane.com

REPUTATION

COMMUNICATION

Nicholas Walsh LLB

nicholas.walsh@hdkeane.com

What makes us different to other solicitors?

HD Keane Solicitors has for 117 years been providing legal representation to a high standard for the people of Waterford city and county, surrounding counties and nationally.

RANGE OF SERVICES WILLS AND PROBATE •• •• •• •• •• ••

Drafting Wills Administering Estates Estate Planning Eduring Power of Attorney Wards of Court Applications Advise Beneficiaries & Family Members

LITIGATION AND DISPUTE RESOLUTION •• •• •• •• •• •• •• •• •• ••

Medical Negligence Road Traffic Accidents Occupiers’ Liability Public Liability Product Liability Employers’ Liability Defamation Professional Negligence Mediation Applications to Injuries Board

FAMILY LAW •• Separation and Divorce

00 353 51 874856 00 353 51 879092

PROPERTY AND CONVEYANCING •• •• •• •• •• ••

Residential Property Sales and Purchases Commercial Property Sales and Purchases Mortgages and Re-Mortgages Farm Transfers Voluntary Transfers Planning

AGRICULTURAL LAW •• All Aspects Of Farming and Estate Management •• Sale and Purchase Of Farms and Estates •• Voluntary Land Registration,

Rights Of Way & Wayleaves •• Agricultural Joint Ventures & Partnerships

EMPLOYMENT LAW •• •• •• •• •• ••

Unfair Dismissal Workplace Discrimination Bullying and Harassment Issues Equality Issues Redundancy Representation at Work Place Relations Commission

hdkeane.com enquiries@hdkeane.com

22 O’Connell St Waterford