Sole director/shareholder of a financial services limited company is transferring trade/goodwill from Ltd company to sole trader with the intention to sell onto a third party within 2 years and retire. I understand this will create a corp tax charge in the company based on deemed market value. Tax specialists have also advised that the value of goodwill could be 'gifted' to shareholder so no money changes hands and then deemed market value becomes base cost for the individual to offset against future sales proceeds received from 3rd party.
Goodwill has been internally generated by company so no value on balance sheet. What is the double entry in the ltd company accounts if deemed market value is £100K? Credit profit on diposal of intangible asset - Debit??? or is it just an adjustment on tax computation/ct600?