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14 August 2018
Selling the goodwill from a limited company.
I have a client thinking of selling the goodwill from his limited company to a new limited company in which he has a majority interest.
He incorporated in April 2005 selling the goodwill from a sole trader business into the limited company. No tax reliefs have ever been claimed on the goodwill.
I have two questions that I need help with.
- Is there any sort of stamp duty payable on the sale of the goodwill? There is no sale of land involved.
- Will indexation relief be available for the period from April 2003 to December 2017? The sale is likely to be in the next six months.
I would be grateful for any assistance from readers.
Query 19 217– Seller.
Reply by Steve Kesby
Does the goodwill fall within the intangibles regime?
Goodwill ceased to be liable to stamp duty...
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