Many businesses owners have, over the years, benefited from tax savings that arise from the transfer of the goodwill of their unincorporated business to a limited company.

HMRC has recently announced that they will look more closely at the valuation of businesses so transferred and will consider additional tax charges where they believe the valuations have been over-stated.

Our advice is that businesses that are considering transferring to a limited company, or that have done this recently and have concerns over the basis of valuation, should review the position with us. For further information please contact Mark Sheen.

13/12/2005