Market leading insight for tax experts
View online issue

Balloons, Pizzas, Cats, Dogs & Rats

Patrick Cannon looks at a recent Special Commissioner's decision which points to a flaw in the way HMRC approach the treatment of goodwill for tax purposes
The recent decision of the Special Commissioner in Balloon Promotions Ltd and Others v Wilson and Another SpC 524 released on 3 March 2006 provides a fascinating example of the issues surrounding the tax treatment of goodwill and business premises. It also illustrates the different approaches to goodwill taken by lawyers HMRC accountants and chartered surveyors. Clients should be made aware of these differences of approach when considering the tax consequences of a possible sale of business premises because the tax result can differ according to which approach is being used for the projection of figures.

If you or your firm subscribes to, please click the login box below:

If you do not subscribe but are a registered user, please enter your details in the following boxes:

Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this article in full.
Please reach out to customer services at +44 (0) 330 161 1234 or '' for further assistance.