Stamp Duty on Goodwill – the season of goodwill by the tax man?

Goodwill arises from the business and personal relationship between the person who runs the business, and its clients or customers and the reputation of the business.

It has a value. It can often have a higher value, than a lease or fixtures and equipment.

Judges have talked about cat goodwill, dog goodwill, rat goodwill and even rabbit goodwill, and when you hear what they all mean, they mean, you will laugh but your head will spin.

The tax man attempts to tax goodwill but this can and should be resisted, with expert advice.

Also the split of the price between goodwill, a lease and fixtures and equipment when one is acquiring a business such as a dry cleaners or a restaurant, can have important tax implications.

Consult the experts.

Rodney Hylton-Potts
24 hours a day legal help and e-mail advice line.

020 7381 8111
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