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Disposal of goodwill – capital or income

Disposal of goodwill – capital or income

The First-Tier Tribunal (FTT), in the case of Villar v Revenue and Customs examined whether the disposal of goodwill was capital or income in nature. The taxpayer in this case was

Selling the family heirlooms

Selling the family heirlooms

There are special rules concerning the payment of Capital Gains Tax (CGT) on the sale of personal possessions also known as 'chattels'. Personal possessions are generally

Reminder of “bed and breakfasting” rules

Reminder of “bed and breakfasting” rules

Historically, the term bed and breakfasting (sale and repurchase) of shares referred to transactions whereby someone sold shares one day and bought them back the next morning. This

CGT and chattels

CGT and chattels

A charge to Capital Gains Tax (CGT) usually arises after an asset is sold. However, there are special rules concerning the sale of certain personal assets that are worth