To counter a perceived avoidance, legislation is to be introduced from 3 December 2014 to deny entrepreneurs’ relief on the transfer of goodwill to a limited company with which the vendor is connected. This affects individuals and partners that incorporate their business and sell their goodwill to the company.
At the same time legislation will restrict relief for companies that acquire internally generated goodwill from a related party on the incorporation of the business.
Date: 3rd December, 2014
Articles from this Author
1st November, 2018
Budget 2018 - Changes for businesses
22nd October, 2018
Making the most out of your home? Rent a room relief
3rd May, 2018
Tax changes for non-resident corporate landlords
4th April, 2018
EMI options - a current risk
Contact Business Service Partners
Choose from the drop down menu below to select a Partner to contact.
For the latest Mercer & Hole news, visit our LinkedIn page mercer-&-hole