Definition
Goodwill is the economic value of the business name, the reputation it has gained, and the customer relationships. Consideration for goodwill is subject to capital gains tax.
Rate
Tax on goodwill: 25% for an individual. The profit can be spread over 6 years for lower tax rates.
Important Note: The information on this website is for general informational purposes only and does not constitute professional tax advice. Consult a qualified tax advisor before making financial decisions.