Q for the Accountants.

[digisatman]

Hi all,

Looking to purchase a small business on leasehold, and was wondering how to make the payment of "£10,000" to the current owner through the solicitor.

Should I make a single £10,000 payment, shown as "Fixtures and fittings", or a £5000 payment for goodwill + £5000 payment for Fixtures and fittings.

Which method will be more beneficial to me the buyer?

Thanks,

 

[robert.saunders]

is this orf topic

 

[ibrar]

Well your solicitor would ask for soliciting fees, so that would only increase the payment (I believe). I would aim for the 50/50 option. Still in the process of becoming an accountant

 

[ibrar]

Just a little bit off topic

 

[smillion]

You should get full tax relief on either if seller is unconnected.

 

[crockers]

is this orf topic

It may be a Mercedes Business...........

 

[ibrar]

It may be a Mercedes Business...........

crockers, im enjoying the witty comments