I am selling my dental practice which I have been operating as a sole trader for some time. I am selling the goodwill (value is nil in the accounts as it has been amortised by my previous accountant) and would like an idea of the tax payable. Am I right in thinking this will be treated as a capital gain and taxed as such. I have also read about entrepreneurs relief. Would I be allowed to claim this? I have no connection with the limited company that is buying my business but I will be doing some sub-contracting dental work for them (classed as self-employed income) until I retire.
I would be grateful of any information.
Thanks in advance