Hicks blog

Interest-only mortgages were popular during the housing booms of the early nineties and ‘noughties’. Typically, borrowers make monthly repayments that cover only the interest on the amount borrowed. The capital (the full amount borrowed) is then paid back when the mortgage term matures – typically after 25 years - using funds such as savings or inheritance, usually with the hope that the property will have increased in value.

Evidence suggests that employee-owned businesses – those in which members of staff own a stake (often in the form of shares) in the business – are likely to show increased productivity and, as a result, increased profitability compared with those that do not.

Research by National Savings and Investments (NS&I) has revealed the amount of money individuals are setting aside has reached its highest level for nine years. Britons are now saving an average of £104 a month – equivalent to eight per cent of their monthly income. The beginning of 2013 is the third quarter in a row that saving levels have increased, jumping £90 on the previous quarter.

Changes to business regulations happen at two common commencement dates - in April and October - each year. As well as the headline changes to redundancy consultation periods and employment tribunal procedures introduced this April, changes to national insurance contributions (NICs) for ‘sleeping and inactive’ limited partners have also been announced by HM Revenue & Customs (HMRC).