The Goodwill Con

The Goodwill Con

Chris Hart believes that HMRC’s approach to goodwill and trade- related properties is based on a misinterpretation of the regulations.

In 2009, the Valuation Office Agency (VOA) issued a practice note: Apportioning the price paid for a business transferred as a going concern (www.lexisurl.com/VzIVf). This related to what is known as trade-related property (TRP) – pubs, clubs, nursing homes and the like. These properties are normally valued on the basis of their trading potential. I wrote an article for Taxation on behalf of the Royal Institution of Chartered Surveyors (RICS) titled “The goodwill game” (2 April 2009, page 329), following a disagreement between the RICS and VOA surrounding the publication of its practice note – the RICS having fundamentally disagreed with that note.

Click here to download the full article

<< Go Back

Our website makes use of non-invasive (no personal data) cookies to provide you with an enhanced user experience. By continuing to use the site, you consent to this.Close More

The UK Law now requires us to get consent from you for the use of cookies.

A cookie is a small file containing text and numbers generated by the website and passed from your browser back to our website when you revisit the site.

A cookie is used here to allow you to navigate the site, log in etc. Without this cookie (called a session cookie), this site would not work properly and so this has already been set.

We use an animation based rotating image which uses a cookie to know which image was last displayed so that as you move from page to page you are not seeing the same image every time.

We can also make use of third party services such as video clip players which can set cookies, for example to enable them to know that you part played a video clip previously, or to store customised settings such as brightness or volume. Close