Raising tax issues over the point of sale.

Q: I have had an approach to purchase my business and I wonder if there are any matters that I shoul...

Q: I have had an approach to purchase my business and I wonder if
there are any matters that I should be aware of from a taxation point of
view?


A: It is not stated whether you do business as a sole trader or
partnership, or whether you trade as a limited company.


If you are operating as a sole trader or partnership, the sale could
include goodwill and other assets such as furniture, equipment and
vehicles.


Any profit or loss on the latter will be assessed to income tax.


The sale of the goodwill will