Ok, so far today I have done the following tests to test out some of the suggestions you guys have made:
I turned all water heating off and ran off any stored hot water, so all that was present in the hot water tank was cold water, selected the "hot side" of the mixer and ran the pump..... all worked well for approx 1 min before it did exactly the same cough, splutter and the pump increased in noise. Turning the pump off and waiting for a few mins then starting again, the same occurs. I conclude from this that the water temp is not causing the issue (Thanks Seco Services for the suggestion re the tank thermostat).
After the above test I isolated the main water in to the float valve for the cold water storage and popped up in the loft, the tanks had barely had anything drained out of them.
Re-supplying the tanks with water, I turned the mixer fully to the cold setting and ran the pump, this chugged along happily until I got bored, over 5 mins, the cold water storage tanks happily fed it for the enitre duration. As a point to note the 22mm cold water supply to the pump is slightly higher in the tank than the 22mm supply to the hot water tank, so if any were to run out first it would be the cold, not hot. (Thanks Lower for your suggestion)
This definitely seems to happen after running the pump when the mixer is on fully hot for approx 1 min, or longer if the mixer is set halfway between cold and hot.
As per Moggets suggestion (thank you) is the cold supply to the hot water tank restricted? is this the last possible problem? and how on earth do you check that?