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Goodwill and trade related properties

Over the last two years, the CIOT (with input from the ICAEW, the Stamp Taxes Practitioners’ Group and the RICS) has been discussing the tax and valuation issues surrounding the treatment of goodwill in trade related properties (pubs, restaurants, hotels, care homes being common examples) through meetings and correspondence. An article written by HMRC/ Valuation Office Agency ( VOA) Trade Related Property and Goodwill Working Group and published in the August edition of Tax Adviser explains HMRC’s current approach. The article is attached here.

An article written by Chris Lallemand, the Chair of the Property Taxes Sub-Committee responding to the HMRC/VOA’s article will be published in the September edition of Tax Adviser and posted here. In addition, Robert Maas’ article in response will appear in the ICAEW’s TAXline and on the ICAEW’s Tax Faculty website. Lakshmi Narain’s response will be published in Tax Journal. All three articles will be posted here once available.

Comments on the articles and the HMRC/VOA approach and/or practical experience of the issues would be welcomed. Please send them to Kate Willis, the Property Taxes Sub-Committee Technical Officer at


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