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An employment tribunal at odds with HMRC’s insistence goodwill for medical practitioners cannot be transferred
KEY POINTS
- Medical practitioners are increasingly seeking to incorporate their practices.
- Business valuers can attach a value to the goodwill that is transferred to the successor business.
- HMRC argue that goodwill in such cases is personal.
- A recent employment tribunal case supports the concept of transferrable goodwill.
- Goodwill is not simply related to personal reputation and skill.
Over the past few years we have assisted a number of medical professional clients to incorporate their private practices. When talking about medical professionals in this article I am referring to medical consultants who while deriving income from NHS employment also have private practices.
In some cases we have on behalf of clients sought the expert opinion of business valuers to ascertain whether the private practice has any...
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