With offset mortgages you not only gain long term advantage by offsetting savings, ISAs and current accounts against the mortgage, you also get a flexible tax efficient investment vehicle.

In April 2006 Pensions Simplification came into effect with the purpose of streamlining the many different pension rules. However, one of the benefits of the rule changes was to re-vitalise the life assurance market. As it is now possible to take out a life assurance policy and obtain tax relief on the premiums.

Last month we updated you on reaction to the surprise announcement, made on Budget Day, of the proposal to bring forward the tax return submission deadline from 31 January to 30 September for paper returns and 30 November for electronic ones. The professional bodies have been campaigning against the recommendations made as part of Lord Carter’s review.

The long awaited White Paper was released on 25 May. It contains many proposals which would change the pensions system quite radically.

In recent months, HMRC have begun to take a very hard line with the reclassification of subcontractors to employment status. The effects of this can be bad enough for a business but it now appears that HMRC are taking a much harder line.