Valuing goodwill is a complex process and there are many different methods which can be used and that vary from industry to industry. Goodwill is a way of placing a monetary value on the business's reputation and customer relationships. Or as HMRC say in their guidance, in accounting terms, purchased goodwill is the balancing figure between the purchase price of a business and the net value of the assets acquired.
HMRC’s approach to valuation of goodwill suggests that there should be no expectation of a synergy-based value on an open market value basis unless synergy in a particular market is common place.
HMRC’s manuals state that when valuing the goodwill of a business the valuer should have regard to the following:
18/04/2024 - More...
1 May 2024 - Due date for corporation tax due for the year ended 30 July 2023. 19 May 2024 - PAYE and NIC deductions
18/04/2024 - More...
Employers can register on a voluntary basis (before the start of the tax year) to report and account for tax on certain
18/04/2024 - More...
A reminder of the changes to Scottish Income Tax rates for the 2024-25 tax year. It was announced as part of the
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