V7.182 Transfer of a going concern—goodwill
The key advantage for a person selling his business as a going concern (in the general sense of the phrase, not the VAT-specific sense), rather than the separate sale of assets, is that he should also be able to receive some payment for goodwill.
Goodwill is an intangible asset, and reflects the difference between the value of the assets a person is buying and the payment made. For example, if a business comprises stock, fixtures and fittings and a freehold property with a combined value of £380,000, but the business is sold for £430,000, then
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