Hnry

Hnry: accounting and tax automation for self-employed workers

Hnry is an accounting firm specialising in self-employed workers. Founded in New Zealand in 2017, it presents itself as one of the largest specialist accountancies in Australasia, with a team of 60 people serving tens of thousands of sole traders across Australia and New Zealand. Its proposition is to automate tax administration so that self-employed workers don't have to deal with taxes themselves.

How the service works

Clients have a Hnry bank account where they receive payments from their clients. As soon as a payment comes in, the system automatically calculates and pays income tax, GST, ACC levies and the student loan, and transfers the rest to the user's personal bank account. The company states that it does not hold on to the money: it pays it directly to IRD every time a payment is received, and users can view these payments in their myIR account.

The tax rate is adjusted throughout the year based on income and deductions applied, rather than applying a fixed percentage. To do this, the system requires information about earnings prior to signing up.

App features

The Hnry app allows you to send unlimited invoices to clients and tracks unpaid invoices. It also allows you to log business expenses by taking a photo of the receipt and entering a few details, and provides insights to optimise your business's finances. Invoicing through Hnry is optional: you can use other software or not invoice at all, as long as you link your Hnry account number to your payment services and your invoices.

The service also allows you to automatically allocate part of your income to savings accounts, KiwiSaver and investments every time you get paid, and offers several payment options, including credit card payment at no extra cost to the user.

The accounting team

Hnry acts as the client's accountant. Its team of accountants files income tax and GST returns when they're due, reviews expenses in real time to apply tax relief, and answers personalised tax questions. The company emphasises that these are real human accountants, not just software.

Self-employed profiles it targets

The service is designed for self-employed workers, freelancers and creators, independent contractors, contracted healthcare professionals and self-employed tradespeople. The firm also has specific resources for freelancers and contractors, as well as documentation on tax matters.

Pricing

Hnry's model consists of a 1% plus GST fee on income deposited into the Hnry account. There is no sign-up fee or subscription, and no hourly charges for answering questions, reviewing expense receipts or filing returns. The 1% fee is capped at $1,500 per year. For individual payments under $50, a minimum fee of $0.50 per payment applies. Hnry's fees are automatically claimed as a business expense.

Presence and coverage

Hnry operates in New Zealand, Australia and the United Kingdom. The company offers specific versions for each of these markets.