I have been a sole practitioner for a number of years and incorporated to a Ltd company 3 years ago. I have recently been given the opportunity to buy a practice off a colleague I've know for years on the understanding that I keep one of the employees on and give him some shares. I decided to completely start a new company, with a new name, logo etc.... I will obviously have some goodwill re the purchase of the other practice, but my question is what happens to the remainder of the goodwill in my old company and what is the most tax effective way for me to transfer my old business into the new company? In the new company I hold 75% of the issued share capital.
Someone has mentioned a share for share swap?
Any advice would be greatly appreciated.