Accountant’s personal goodwill did not exist
Chartered accountant Neill Dyer [TC07567] asserted that he had sold personally held goodwill to his company for £1.2m, and claimed entrepreneurs relief (ER) on the gain. HMRC and the FTT disagreed.
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When something like this can go all the way to a tax tribunal it shows what a swamp our tax system is....
Would there be any correlation between the value of goodwill sold and the amount of money available in Services Ltd to pay for it?