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Company Goodwill Rollover

Company Goodwill Rollover

I have a Limited company running a letting agency looking to sell its client list for £300,000. The business was purchased in the year 2000 as a partnership with goodwill costing £168,000. The partnership incorporated in November 2002 and the goodwill transferred to it. As it was goodwill pre April 2002 no tax relief available on amortisation.

The director intends to reinvest into another business if he can. Am I right in saying that for rollover purposes the only way this qualifies for full relief is if the company rollovers the whole of the £300,000 into the purchase of goodwill and nothing else.

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