Sale of Assets

[Paullamanga]

The asset in question is 150 clients. I paid approximately £85 to "acquire" each one from distributable reserves.
All 150 clients earn me approx £5500 per month and will continue to do so for the buyer.
Perhaps this further helps you in determining the answer to my question?

[VectraMan]

The asset in question is 150 clients. I paid approximately £85 to "acquire" each one from distributable reserves.
All 150 clients earn me approx £5500 per month and will continue to do so for the buyer.
Perhaps this further helps you in determining the answer to my question?

I had a feeling you might say it was something like that.

That's an interesting question, and obviously one for experts.

[TheCyclingProgrammer]

The asset in question is 150 clients. I paid approximately £85 to "acquire" each one from distributable reserves.
All 150 clients earn me approx £5500 per month and will continue to do so for the buyer.
Perhaps this further helps you in determining the answer to my question?

Seems like something that is far too complex for any non-accountant on here to answer and whilst the accountants that post on here are very helpful I'm not sure they are going to devote that much of their time for free to answer this.

You need to speak to your accountant - the one you pay to work this stuff out for you.

[Jessica@WhiteFieldTax]

Its still not totally clear when you mention purchasing from reserves - is this a client bank you have built up or one you bought as a lump sum?

Either way, its an intangible asset, depending on when first acquired / created it is taxed either through Corporate Capital Gains regime or as income/expense in P&L.

TCP is correct, this is beyond a simple answer here and you need to talk with an accountant who has full details and is properly engaged to assist.