We had a few clients looking at transferring businesses before the world decided to end. Couple of transfers between family members, and one incorporation which involved goodwill. It was proposed to happen on 1 April.
For CGT, these were all taking place between connected parties, and so the MV rule applies.
The backside has fallen out of these businesses, and income has pretty much dried up fo rthe forseeable future. Imagining your willing 3rd party coming in to buy the businesses on 31 March, busineesses with no current income stream, and lots of costs (including employees, although the 80% thing may help), what would he pay for it? A lot less than he would have 3 months ago, if anything. As an example, nobody is going to pay much for a pub in the current climate.
What are folks thoughts on this? Does the current situation deflate the MV for any connected transfers taking place, or would HMRC look at this as a "blip", and seek to value based on previous trading history (don't see how they could if I'm honest).