The Institute for Fiscal Studies (IFS) has proposed extending VAT to nearly all spending - including financial services - following its wide-ranging review into the UK's tax system.

RSM Tenon, the national IFA and accountancy business, saw a 57% increase in profits in the 12 months to July following the full integration of the advisory units of tax firm Vantis.

Overall lending for house purchases hit its highest level in almost a year in July, according to the latest figures from the Council of Mortgage Lenders (CML).

Ten of this week's best read news stories...

Not only will the needs of each and every client who needs a protection policy differ, but advisers also have to factor in the different underwriting processes of providers...

The Financial Ombudsman Service (FOS) will not seek to redact the names of businesses when it makes public its final decisions following a client complaint.

Entrepreneur Ivan Massow caused a stir this week with the launch of his new trail-hunting business paymemy.com.

US President Barack Obama last night said the US government is set to unveil a "more ambitious" deficit reduction plan after urging lawmakers to pass a wide-reaching jobs creation programme.

It has been another busy week in the world of financial services...

Aegon is to close its UK-based tied advisory service Aegon Direct as it progresses with a restructure designed to cut costs across the group by 25% by the end of the year.