Hylton-Potts – Free Legal Advice, Divorce Lawyer, Beneft Fraud & Motoring Offences

Goodwill arises from the business and personal relationship between the person who runs the business, and its clients or customers and the reputation of the business.

It has a value. It can often have a higher value, than a lease or fixtures and equipment.

Judges have talked about cat goodwill, dog goodwill, rat goodwill and even rabbit goodwill, and when you hear what they all mean, they mean, you will laugh but your head will spin.

The tax man attempts to tax goodwill but this can and should be resisted, with expert advice.

Also the split of the price between goodwill, a lease and fixtures and equipment when one is acquiring a business such as a dry cleaners or a restaurant, can have important tax implications.

Consult the experts.

Rodney Hylton-Potts
24 hours a day legal help and e-mail advice line.

020 7381 8111
law@rhplaw.co.uk

A very common scenario when you move into a property, is to find that the seller has taken everything, sometimes literally down to light bulbs and loo rolls. The shit and has even stop you having one!

Always inspect just before your lawyer, pays over the money on completion. You should be fully aware of what is a fixture and a fitting. Unless it says so in the contract, the seller cannot remove any fixtures in place on exchange.

Many buyers instruct solicitors or conveyancers who offer a cheaper service. Fair enough but if a dispute like this comes up you need to consult the experts.

Phone Rodney Hylton-Potts 020 7381 8111 or e-mail law@rhplaw.co.uk.