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Where’s it gone?

19 February 2013 / David Bowes
Issue: 4391 / Categories: Comment & Analysis , Business , Income Tax

An investigation into trade-related properties and the mysterious case of the disappearing goodwill


  • Valuing a property in accordance with RICS GN2.
  • HMRC’s change of view on the existence of goodwill is not all that it seems.
  • Are we valuing a business or real estate?
  • Goodwill and land as different as chalk and cheese.
  • Will it take an Upper Tribunal decision to resolve this issue?
  • Valuation approach is not confined to nursing homes.

Let’s say that a client owns a nursing home. They have invested substantial time effort and money to make it the success that it is and it’s almost always full.

It happens to be in a very good catchment area with attractive grounds but the proprietor also provides excellent well-qualified and caring staff together with good food good facilities...

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