A successful Limited company has two 'core' director/sharholders. A Tax 'Expert', has advised them to close the Limited company, and trade from an LLP.
goodwill
Can you claim a tax deduction for the write-off of goodwill within an LLP's accounts (members all individuals)?
5
Do you mention this as a benefit when you talk to potential clients who you believe would benefit from incorporating?
2
One of my sole director clients has made a big name for himself since starting his company in 2005, designing and licensing trading software to the major players in the energy industry.
4
Client currently trades through LLP and as businesses is set to grow, this is being transferred to a limited company.
My client (ltd company) are selling goodwill only - their purchaser will walk away rather than buy the company's shares. Company has no other assets.
9
Steve Collings outlines the fundamental principles of accounting for goodwill and intangible assets and assess the differences between current UK GAAP, IFRS and the proposed IFRS for SMEs.
2
