Hi all,
I have a sole trader, a well established interior designer, who incorporated in 2016/17. I believe most of the goodwill is personal but in the last couple of years she has used subcontractors who work under her brand name (generating over 10% of her profits). This make me think there is an element of non personal goodwill but I am struggling to find an "approved" method that would satisfy HMRC. The amount of goodwill is likely to be under the annual CGT allowance so I was going the CG34 route rather than a professional valuation.
I would welcome any pointers.
Thanks
I have a sole trader, a well established interior designer, who incorporated in 2016/17. I believe most of the goodwill is personal but in the last couple of years she has used subcontractors who work under her brand name (generating over 10% of her profits). This make me think there is an element of non personal goodwill but I am struggling to find an "approved" method that would satisfy HMRC. The amount of goodwill is likely to be under the annual CGT allowance so I was going the CG34 route rather than a professional valuation.
I would welcome any pointers.
Thanks