Are you buying the shares in a limited company which owns the bsuiness which means that you will be operating the business through a limited company or are you buying business assets?
Leave this with me while I draft my answer. It will take a while so please bear with me.
You ought to discuss the entire plan with an accountant before you sign any contracts.
As you will read here, as your company is buying the business assets as opposed to the shares, you cannot get tax relief for the cost of the goodwill. The effect of the low value of the goodwill is to reduce the corporation tax the selling company will pay. When you sell the business in the future, the gain on the goodwill will be ascertained by deducting the £10,000 cost from the price agreed for it. The higher you can get the goodwill price now, the better from a future tax point of view.
As you will see here, the assignment of a short lease means that your allowable cost is reduced as each year passes so if you sell the lease in ten years, you may find that the gain is higher than you thought it would be. The tax treatment is different if you take out a new short lease. Take a look at the notes here and discuss it with an accountant or tax adviser.
I hope this helps buit let me know if you have any further questions.
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