Tax bills, Tesco, cash machines and retirement – Spectator.co.uk (blog)

The taxmans failure to properly pursue the UKs richest people risks undermining confidence in the entire system, according to parliaments spending watchdog. The Guardian reports that the Public Accounts Committee has concluded that Britains super-rich appear to receive preferential treatment from HM Revenue & Customs. The MPs report, released this morning, scrutinised HMRCs specialist unit,…

UK insolvency rates static in 2016 – CCH Daily inc Accountancy Live (subscription) (blog)

Insolvency Service statistics show the total number of company insolvencies was higher in 2016 than the previous year, primarily because of 1,796 connected personal service companies entering liquidation on the same date following changes to claimable expenses rules. Taken this into account, the underlying number of company insolvencies was broadly unchanged in 2016 compared with…

13% rise in personal insolvency as ‘tide turns’ for household finances – Belfast Telegraph

A total of 90,930 personal insolvencies were recorded across England and Wales in 2016 The number of people being tipped into insolvency jumped 13% last year amid fears that the “tide has turned” for household finances. Figures from the Insolvency Service show 90,930 personal insolvencies were recorded across England and Wales, rising 13.1% from 2015.…

UPDATE 3-Caterpillar sees ’17 profit below expectations as restructuring continues – Business Insider

(Adds company comments, analyst quote) By Mark Weinraub CHICAGO, Jan 26 (Reuters) – Caterpillar Inc, the world’s largest construction and equipment maker, forecast 2017 profit sharply below analysts’ estimates, hurt by sluggish demand in the construction and energy industries. Peoria, Illinois,-based Caterpillar has already slashed its workforce by more than 16,000 to cope with a…