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.
- Non-compete agreement 178 1
- Expenses claim for non employee 194 1
- Any views 736 1
- Using a Business broker to sell a clients Company.....??? 86 1
- Paint Manufacturer Flat Rate Scheme 203 6
- IRIS Practice Management 142 2
- Non Registered trader selling to Malta 102 2
- Need qualification back due to clients' banks needing my references 268 8
- Pre- trading Expenses 84 1
- Was I rude 777 19
- Company overdue but wants to be struck off 183 5
- Dividend payments and shareholdings 170 3
- Corporation tax due date confusion 304 4
- You cannot be Serious!!! 254 1
- Top slicing relief question 232 2
- Valuation of PET on death 114 2
- Incorporation - any tax advantage? 272 6
- Share swap 292 8
- Online filing 168 5
- Payment for goods received on last day of quarter but refunded the next - what options are open here? 331 13
- Skandia using wrong address 1,479
- Nil Rate Band Trust - index linked debt by way of charge over property 815
- International interest certificate 446
- Stamp Duty on share for share exchange 418
- Sale of business 394
- NOVA 287
- IRIS Open Books problem 282
- farming-related R & D tax relief claims 199
- Bonus Bonds 170
- Management expenses for investment company 169