VAT on Goodwill Transfer
I am trying to decipher whether my client has been charged VAT incorrectly on the purchase of a window cleaning client list, no equipment included. A sale of goodwill by itself is not likely to be a TOGC but if the goodwill itself allows the buyer to run a similar business then it can be a TOGC but does this apply in this instance? If indeed this is not a TOGC and VAT has been charged correctly, can the VAT be reclaimed as Capital Expenditure? My client is on FRS.