Commentary

C3.1504 Valuation of goodwill

Capital gains tax
Capital gains tax | Commentary

C3.1504 Valuation of goodwill

Capital gains tax | Commentary

C3.1504 Valuation of goodwill

HMRC Shares and Assets Valuation deal with all valuations of goodwill and intangible assets, whether the business is located in or outside the UK1. For details of HMRC procedure, see C2.126.

In GM Wildin v HMRC2, the First-Tier Tribunal concluded that valuing goodwill on the basis of a multiple of gross recurring fees is a more accurate method of valuing professional firms, including small accountancy practices, than had been proposed by HMRC. HMRC's view was that the net asset value should be deducted from the whole practice valuation, but the Tribunal disagreed that there is any necessary

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