Goodwill on incorporation
Client has been a sole trader (IT consultant, but not a contractor) for just over a year.
He set up a ltd co 6mths ago and hasn't used it, but now wants to.
He has 3 customers so far, (two knew him personally before he went self-employed and recommended him to the other one) and a turnover of £30k.
I don't think there is any scope for goodwill on incorporation because it's all personal to him, but am I being over-cautious?
(The client has been speaking to the "man in the pub" whose goodwill was naturally into the £thousands then [edit: "when"] they did it.)
Thanks for any helpful opinions.
- Supplier refund treatment in Sage Line 50 130 1
- Sage Starting Again As Records are in a mess 85 2
- Can I take action against my accountant for incompetence? 886 15
- Question regarding gym training 278 4
- CIS Deductions 208 1
- Leaving Flat Rate Scheme for VAT 95 2
- is this fraud? 601 11
- first year company tax return for a limited company 1,294 27
- Not a good start no broadband 362 7
- Entrepreneurs relief available? 397 8
- Has anyone read the implications of the Lisbon treaty? 621 10
- Property initial recognition 142 2
- P11D Dispensation 217 3
- CPD 114 1
- Dissolving company to avoid CCJ 423 7
- new software IXBRL and Accounts production? 150 1
- Mortgage to buy property in limited company 188 4
- Directors Subsistence 394 3
- Gong round in Circles with CT600 215 2
- How long are 64-8s taking these days? 435 9
- Property exchange - 8-year legal delay following fall-out 568
- Cancelled 339
- SAGE Payroll Data for Import to MS Dynamics AX 324
- Cancelled 279
- Have you staged yet for auto enrolment? 247
- Probiz 226
- VAT on non-profit making clubs (ECJ VS West Dorset Golf Club) 170
- Phishing emails purporting to be from CIPFA? 170
- Car leasing scheme 161
- Is this UK incapacity benefit taxable in UK or Jersey? 147