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Commentary

I8.339 Valuing partnership goodwill

IHT, trusts and estates

Goodwill is prima facie included in the 'assets', 'property', 'effects' or 'stock' of a partnership and must be paid for by the continuing partners if they purchase the share of a retiring or deceased partner, in the absence of a prior agreement to the contrary1.

The valuation of goodwill is treated at

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