Commentary

I8.353A Goodwill in trade related properties

IHT, trusts and estates

I8.353A Goodwill in trade related properties

I8.353A Goodwill in trade related properties

HMRC accept that if a business is sold as a going concern then the sale must include some element of goodwill. The question of what value should be attributed to goodwill should be decided on the facts of each individual case. HMRC have published a practice1 note setting out its views and this is briefly summarized below.

When valuing goodwill it will usually be appropriate to value all the tangible assets together for sale as an operational entity so that a purchaser can if they wish trade from the day of purchase. There are a host of real and practical reasons why the assets

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