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